In an environment of greater transparency and enhanced communication, expectations are high on the delivery of our results. As central banks, we have to be knowledge intensive institutions and derive our influence mainly from the quality of our arguments, which requires a strong research function. Central bank continuity provides institutional memory. A central bank accumulates knowledge both from research and experience.
Governments change, but central banks stay. We are one of the most important reservoirs of knowledge that rightfully places us as the center of research in our small economies.