Furthermore, to ensure that monetary policy is consistent with the Government's basic economic policy framework, the Law states that the Bank should always maintain close contact and exchange views with the Government. As I will discuss later, the Law also allows representatives of the Government to attend MPMs to give their views.
Now for the second point, namely the decision of monetary policy by a committee, or a policy board. At the opposite extreme to this system is the framework in which the final decision is entrusted to the central bank governor, and some central banks maintain this system.