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CBCG transparency

CBCG regularly informs the public on the most important issues discussed at the CBCG Council meetings and also on primary trends at the Montenegro’s economy on through monthly Central Bank Bulletin, quarterly CBCG Macroeconomic Report and Inflation report, annual Central Bank of Montenegro Report, Financial Stability Report, CBCG Annual Macroeconomic Report, Price Stability Report, and CBCG Financial Report with the External Auditor’s Report, and working papers.

The CBCG may be considered to be a central bank with high degree of transparency.

A central bank acts transparently if it continuously provides and clearly communicates information on its operations relevant for the economic sector’s functioning.

According to the IMF definition, transparency refers to an environment in which the objectives of policy (legal, institutional, and economic framework), policy decisions and their rationale, data and information related to monetary and financial policies are provided to the public on an understandable, accessible and timely basis. Moreover, central bank transparency is broadly defined as the absence of asymmetric information between financial markets and monetary policymakers, i.e. enabling financial market participants to better understand monetary policy actions and their effects on economic trends.

A central bank should communicate with the public on: monetary and policy objectives, monetary policy instruments, macroeconomic environment in which central bank objectives and forecasts are realised.


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