Since we are not an inflation targeting central bank, there is no formal memorandum of understanding (MOU) or a “Results Agreement” between the Government and the Reserve Bank. Nevertheless, we render accountability for our performance on inflation. We explain the rationale for our monetary policy stance quite extensively.
(iii)  Allow food prices to be determined by the market and use minimum support prices to provide only a lower level of support so that production decisions do not get distorted or the price wage spiral accentuated. This means limiting the pace of MSP increases going forward.