You w ill appreciate, that in the areas of monetary policy and exchange rate policy, there is ongoing improvements and clarity relating to institutional setting, policy framew ork and parameters, instruments and decision-making cycles and dissemination platforms. In my view such developments have greatly improved understanding and efficacy of these policies.
Regarding monetary policy, the Bank of Botsw ana has now entrenched a price stability objective of 3 – 6 percent, w here the institutional set-up entails six pre-announced meetings in a year, of the Monetary Policy Committee that assess developments, economic outlook and make a policy decision. A media briefing, and a Statement announcing the policy decision and related background information follow each meeting.