Your browser is not supported

Our website does not support the browser you are using. For a better browsing experience update to a compatible browser like the latest browsers from Chrome, Firefox and Safari.

Our monetary policy research

Our monetary policy research is centered around 6 themes.

Our research themes

These themes are designed to help us inform policy advice with up-to-date data, models and theories.

Forecasting and modelling

Our monetary policy advice needs to be informed by best-practice forecasting, empirical tools, and quantitative models.

Tools, transmission, and communication

We work to understand the cyclical and structural aspects of our tools and their transmission so we can provide sound monetary policy advice and retain public confidence.

Small open economy macroeconomics

We work to understand how exogenous shocks from global developments are transmitted to and through our economy, and how this affects monetary policy settings.


We work to understand the dynamics of various measures of inflation and inflation expectations, the demand-side and supply-side drivers of inflation, the impact of inflation on welfare, and what drives inflation in the long run.

Labour market

We work to understand employment and wage dynamics in the labour market, and their effect on inflationary pressures.

Monetary policy framework, strategy, and coordination

We work to understand our monetary policy targets, what level they should be set at, and how to respond to supply shocks so we can be better prepared for issues that will affect monetary policy in the future.