In Australia’s case, the need for accountability, and communication as one mechanism to deliver that accountability, was reflected in the first Statement on the Conduct of Monetary Policy, which stated that ‘it is important the Bank report on how it sees developments in the economy, currently and in prospect, affecting expected inflation outcomes’.
It noted that this would include the Statements on Monetary Policy, public 9 / 14  BIS central bankers' speeches  addresses and required semiannual appearances of the Governor before the parliament. Today, the extent and nature of communication have increased still further.