Central Bank Monetary Policy Advisory Council appointed

The Monetary Policy Advisory Council has been constituted under the provisions of amendments to the Central Bank of Malta Act, which came into force yesterday.

The council is responsible for advising the Governor of the Central Bank on matters relating to monetary policy.

It will be composed of the Governor, the Deputy Governor, the other three directors of the bank and three other individuals appointed by the Governor after consultation with the board.

Governor Michael Bonello has appointed the following Central Bank officials as members of the Monetary Policy Advisory Council: Alfred Demarco, deputy general manager, economics division; Rene Saliba, deputy general manager, financial markets division; and Herbert Zammit LaFerla, deputy general manager, financial stability division.

The council will also comprise: Michael Bonello, Governor; David Pullicino, deputy governor; Saviour Falzon, director; Alfred Lupi, director; Prof. Edward Scicluna, director John Caruana, manager, economic analysis office, has been appointed council secretary.

The first meeting of the council will be held on Friday.