Salaries higher for monetary policy staff than markets specialists

Budgets for monetary operations/markets teams were larger, but monetary policy staff were slightly better compensated

All 35 respondents to the Central Banking Monetary Policy Benchmarks 2021 answered that they keep their monetary policy and monetary operations/markets departments separate. 

Staff numbers in the monetary policy department were higher than in the monetary operations/markets department at 45% of central banks, lower at 48% and exactly equal at 6%. Monetary policy staff numbers ranged from two to 163, with an average of 42. Staff in monetary operations/markets departments numbered from three to

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