The Monetary Policy Committee (MPC) comprises of the Governor and Deputy Governors, as well as heads of departments responsible for economic research and treasury. Furthermore, there shall be four persons appointed by the Minister, who are not employees of the Bank and are knowledgeable and experienced in the relevant function of the MPC. The committee is responsible for the formulation of the monetary policy for the Bank.
The MPC meets approximately every two months although, if required by circumstances, additional meetings can be convened. Shortly after each meeting, the Bank issues a press release informing the public of both the Committee's decision regarding the Monetary Policy Rate (MoPR) and the reasons behind it.
The MPC meetings for 2023 are scheduled as follows:
February 23, 2023
April 28, 2023
June 15, 2023
August 24, 2023
October 26, 2023
December 7, 2023