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Objectives of Monetary Policy
The Bank’s monetary policy framework has as its primary objectives, the maintenance of:
- A low and stable rate of inflation
- An orderly foreign exchange market; and
- An adequate level of foreign exchange reserves
The conduct of monetary policy is influenced by the pace of real economic activity, the fiscal operations of the Government, trade and capital flows as well as the operations of financial institutions. In carrying out its monetary policy, the Bank also takes into account the potential implications for the foreign exchange market and the stability of the exchange rate.