Governance benchmarks – the latest data and analysis
Governance
Governance Benchmarks 2025 report – independence amid turbulence
Benchmarks highlight pressures on independence but most say protections are sufficient
The Governance Benchmarks 2025 report reveals new detail this year on elements of central bank independence. Central banks generally gave their independence high scores across the board, but see greater problems with human resources, legal protections for officials and the range of their mandates. Elsewhere, the benchmarks highlight possible drawbacks in central bank capital frameworks that could expose some institutions to pressure. Wider data sheds light on board composition, governor salaries, audit processes and more.
Charts
Breaking down independence
The Governance Benchmarks 2025 breaks down central bank independence into 10 key areas, with independence rated one to five, with five being full independence. Average scores are high across the board, though some individual central banks report problems in particular areas.
For the full breakdown, use the benchmarking service’s interactive charts to explore the data.
Model banks analysis – Governance 2025
Data breakdown highlights independence pressures, capital frameworks and staffing challenges
Governance data
View the full breakdown of responses to the Governance Benchmarks.
Non-executive directors earn five times less than governors
NEDs work an average of 14 hours weekly, Governance Benchmarks 2026 find
Boards with salary-setting duties have largest membership
Greatest number of non-execs appointed by government
Roughly 40% of central banks lack a monetary policy committee
Governing boards remain widely responsible for setting overall strategy
One in six central banks is being recapitalised
Process is ‘not as smooth as we would want it to be’, benchmark respondent says
Governors of smaller central banks earn slightly below global average
But governors’ salaries remain above $200,000 a year
European governors serve longest average term length
Central bank governors rarely appointed for one term or 3+ terms
One-fifth of central banks say governing laws are inappropriate
Government still sets salaries at one-tenth of jurisdictions
One in five smaller central banks lacks fining powers
Respondents still widely manage FX reserves and act as lender of last resort
Cross-Benchmarks Staffing Report 2025: tackling shortages
Benchmarking data and central bank comments point to bottlenecks, but HR teams are taking action
Central bankers’ compromised immunity
Just how much legal protection should officials have from spurious lawsuits or wrongful dismissal?
Governance Benchmarks 2025 – model banks analysis
Data breakdown highlights independence pressures, capital frameworks and staffing challenges
Governance Benchmarks 2025 – executive summary
Data shows strong independence with threats in some areas, and sheds light on staffing, mandates and more