It also suggests an organisational structure and elucidates the recommended roles and responsibilities of the personnel involved in implementation of such a structure. In its recently released IT Vision document 2011-17, the Reserve Bank has made certain recommendations with regard to IT Governance, which are extremely relevant for banks as well as the Reserve Bank. Benefits of IT Governance: doing more with less 12.
Perhaps more importantly, the use of inflation and unemployment thresholds would help the public understand whether a shift in the calendar date, assuming that one is still included in the statement, reflects a change in the Committee’s economic outlook or, alternatively, a change in its view concerning the appropriate degree of accommodation.