However, this policy response is not mechanical; it takes account of expert judgement and supplementary analysis in order to accommodate other factors that may not be fully incorporated in the forecasting model.
At the regular meetings of the Monetary Policy Committee, economic developments and key indicators of the inflation outlook are monitored and reviewed, so that a timely policy response can be taken, if necessary. After each Committee meeting, the decisions, the reasons for those decisions and the inflation outlook are disseminated to the public through press releases.