So the Act provides that, once the Policy Targets Agreement between Minister and Governor has been signed, the Governor should be entirely independent in the formulation and implementation of monetary policy. The Governor has absolutely no obligation to consult with the Minister, with the Treasury, or indeed with the Board of the Bank.
One of the benefits from this will be that, in any of the Bank's member countries, you can have ready access to your accounts through the use of debit and credit cards. There were also positive developments with respect to the Bank's money and capital market development programme during the year.