Domestic Monetary Policy Implementation in 2019 For its part, the Bank of Botswana continues to conduct monetary policy through a forecast-based policy framework, and that informs the response to deviations of inflation from the 12  objective range, in a forward-looking manner.
Wages and unit labour costs have increased about 10% since 1999 compared to the average of all trading partners and compared to euro area. BIS central bankers’ speeches  1  How did cost competitiveness end up weakening so much? One part is misjudgment and bad luck regarding timing. Just before the global financial crises escalated, a round of union-level wage agreements took place.