The Central Bank of Ireland is responsible for maintaining price stability in Ireland through the implementation of ECB decisions on monetary policy.
As a member of the ECB Governing Council, the Governor has direct input into monetary policy decisions and other major policy areas.
While the Governor has sole decision making power in relation to ECB monetary policy formulation, the effectiveness with which he can perform his duties in this respect may be enhanced by the quality of monetary policy briefing, statistical information, and analysis and research provided. We are continually striving to improve our contribution in this area.
To ensure that our analysis adapts to changing circumstances, we will monitor relevant market trends, indicators and instruments, and collect survey information as appropriate.
The implementation of monetary policy will continue through participation in the various open market operations of the Eurosystem. We will also seek to influence ECB decisions on monetary policy operational issues through our active participation in various ECB committees.