Research and Statistics
Department sits at the center of the Bank's monetary policy work.
The targets of monetary policy, which
are set by the Board of the Bank, can vary from time to time. They
are recorded in the Bank's Annual Report and Corporate Plan, and
mentioned occasionally in speeches given by the Governor and others.
The Research and Statistics
Department is responsible for collecting economic and financial data
from both Samoa and overseas. It undertakes analysis of information
it receives and makes forecasts of future developments.
On a basis of the information and the
forecasts, the Department advises the Board whether the current
monetary policy targets are likely to be met at the present settings
of monetary policy. If they are not, the Department will recommend a
change in policy settings. This could take the form of an adjustment
to interest rates or the exchange rate, or both.
The Central Bank accepts that
businesses and people will make better economic decisions - about
savings, investments, spending, etc - if they have access to
information about the economy in Samoa and events overseas.
Accordingly, the Bank believes that it is important to distribute
the economic and financial information that it obtains.
As most of this most information is
gathered and analyised by the Research and Statistics Department is
also responsible for putting together much of the material that is
published by the Bank.
