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Research and Statistics Division

The Research and Statistics Division (RSD) has been established following the separation of the ex-Policy, Market Operations and Statistics Division (PMOSD) into two new divisions; the RSD and the Financial Markets Division (FMD). One of the primary reasons behind the seperation was to segregate the policy and operational elements in the conduct of monetary policy.

As such, the RSD is now geared towards research, duties specialisation and updates to comply with modern standards in central banking, focusing on policy formulation in the monetary and external sectors.

Under this new structure, RSD is responsible for carrying out two functions, divided into two units. "The Policy and Research Unit" has the role of policy formulation and to carry out economic research and analysis, whilst the "Statistics Unit" offers its support through the provision, compilation and dissemination of statistics and other relevant information.

(a) Policy and Research Unit

The Policy and Research Unit is the economic intelligence unit of the Bank and the key objective of the Unit is to play a pivotal role in the formulation of monetary and external sector policies. It is subdivided into four sub-divisions, made so due to prevailing circumstances under which the economy is to be brought under analysis and where necessary apply a holistic approach to any issue at hand.

The sections, their respective responsibilities and objectives are:

(i) Monetary Policy

  • Responsible for policy formulation and monitoring
  • Mandated to oversee and update the Monetary Policy Framework
  • Carry out research on monetary policy and related issues
  • (ii) External Sector Policy

  • Responsible for policy formulation and monitoring
  • Carry out research on foreign exchange policy and development of the foreign exchange market
  • Responsible for Balance of Payments analysis
  • (iii) International Relations

  • Responsible for regional integration issues
  • Act as liaison with other international organisations on economic matters
  • Prepare necessary documentation for high level meetings (relevant to the Division’s responsibilities)
  • (iv) Publications

  • Prepare the Bank’s publication in terms of the Annual Report and Monthly Reviews
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