But in those cases the decision-makers are full-time appointees, in some cases in systems with expressly individual, as opposed to collective, responsibility for their decisions. That is not the system Australia operates, and our pattern of disclosure reflects the institutional arrangements. In the interests of clarity, let me also state that these minutes do not cover issues other than monetary policy.
Other matters that the Board considers from time to time – such as the Bank’s accounts, audit processes, issues concerning subsidiaries and other governance questions – are not recorded in these published minutes, because there is no public policy case to do so. There is proper disclosure on these matters, but through the appropriate vehicle, which is mainly the annual report.