Monetary Policy Communication 

The Central Bank is committed to the greatest possible degree of transparency related to its monetary policy conduct. The Monetary Policy Board shall meet at least once in two months and issue a press release announcing its decision for the monetary policy stance, together with an explanation of the factors influencing the decision and its rationale. The Central Bank's website is updated whenever necessary. Usually, press conferences are held by the Governor and senior Central Bank officials after each monetary policy review. In addition, senior officials of the Central Bank are frequently interviewed by the media.

The Communications Department of the Central Bank, which is responsible for disseminating information to the public, handles matters relating to press releases and press briefings. Information related to monetary policy conduct and other useful economic information are also disseminated by way of weekly/monthly indicators, monthly bulletins, news surveys, press releases, the Annual Report and other publications.

When substantive changes to the policy are proposed, consultations are usually held with organisations affected by the proposed changes e.g., Bankers' Association, Primary Dealers' Association. Monthly meetings are held by the Governor with chief executive officers of licensed banks, at which the monetary situation and other economic and financial developments are discussed. Regular meetings with licensed finance companies and primary dealers are also held by senior officials of the Central Bank.