About the Bank

The Governing Council consists of the Governor, Senior Deputy Governor, and four Deputy Governors. It is responsible for monetary policy and decisions concerning financial systems, as well as for the day-to-day management of the Bank.

The Governing Council's main tool for implementing monetary policy is the target for the overnight rate. This rate is normally set on eight "fixed dates" per year. The Council arrives at its decisions about the rate by consensus, rather than by individual votes as is the case at some other central banks.