How Reserve Bank of Australia make decision for monetary policy?

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1. Guest643
   

   The formulation of monetary policy is the primary responsibility of the Reserve Bank Board. The Board usually meets eleven times each year, on the first Tuesday of the month except in January. Hence, the dates of meetings are well known in advance. For each meeting, the Bank’s staff prepare a detailed account of developments in the Australian and international economies, and in domestic and international financial markets. The papers contain a recommendation for the policy decision. Senior staff of Reserve Bank attends  the meeting and give presentations. Monetary policy decisions by the Reserve Bank Board are communicated publicly shortly after the conclusion of the meeting.

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