This new banknote will be issued into circulation from October this year. There are more $ banknotes in circulation than any other note, so it is a big task. All up, there are 700 million $ on issue – they are used heavily in transactions as well as being the main ATM banknote.
Monetary-policy-making is a forward-looking exercise, requiring objectivity and independence of mind, and should, in my view, be ideally operationally-independent of Government. The mandates of fiscal and monetary authorities are not necessarily incompatible – the overriding objective remaining the well-being of the nation. Indeed, fiscal and monetary coordination is a two-way traffic requiring mutual adjustment.