Increasing transparency But what else should the central bank convey? For example, should it publish forecasts of variables in its policy reaction function and should these forecasts be based on the most likely path that the policy rate will follow or on some other assumption?
Some of the other areas of policy development the RBF is focusing on are: •  Local value added content requirement for the tourism industry;  •  Financial literacy; and  •  Local advisory board for branches of foreign banks. Most of these policies are directly related to the microfinance initiative.