It rather means that the successful sequence of policymaking – in particular in the presence of unconventional policy measures – is (i) to be clear about our reaction function, including how the expected monetary policy stance would be mapped into different policy instruments, (ii) to disclose frequently our assessment of the state of the economy and its likely evolution, and (iii) to act accordingly.
National Financial Competency Survey Ladies and Gentlemen, in the first quarter of 2011, the Reserve Bank was approached to take the lead role as Project Manager and coordinate a survey that would provide a reliable set of data to assess the current levels of financial literacy of low income households as well their attitudes towards money.