What is Reserve Bank accountability for monetary policy?

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1. Guest6321
   

   The Reserve Bank’s conduct of monetary policy is explained publicly through several channels. The Bank makes a public announcement of any policy decision, giving detailed reasoning for it. Minutes of the monetary policy meetings of the Reserve Bank Board are published two weeks after each meeting. It publishes four Statements on Monetary Policy each year, which contain a detailed analysis of the economy and financial markets, and an account of the considerations for the policy stance adopted by the Bank. The Governor appears twice each year before the House of Representatives Standing Committee on Economics, to answer questions on the Bank’s conduct of policy.

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