Most central banks accountable to legislature
Chains of accountability vary and there does not appear to be one ‘gold standard’
Over 70% of central banks that responded to the Governance Benchmarks 2021 said that their governor or senior officials must explain their policies to a legislative body or one of its committees. Around 30% said they must report to a supervisory board or government directly.
Three central banks said they have to report to all three bodies. Thirty-eight percent of respondents gave further details or outlined other ways in which they are held accountable.
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