Monetary policy and ops divisions mostly segmented

Nine in 10 institutions separate units in the Americas, Asia and Europe

Most central banks are likely to separate their monetary policy and operations departments. The trend is most common among high income central banks that participated in the Monetary Policy Benchmarks 2022.

Of the 39 responses to the question, 85% (33 banks) said they run their monetary policy and operations departments separately. Only six banks (15%) said they combine the units.

The benchmark featured 15 high income institutions, 13 upper-middle income banks, nine lower-middle income

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