No.

Dimension of Transparency

Highest Score

CBN Score

1

Political

3

3

a

Formal Objectives

0, 0.5 & 1

1

b

Quantitative Targets

0, & 1

1

c

Institutional Arrangement

0, 0.5 & 1

1

2

Economic

3

1

a

Economic Data

0, 0.5 & 1

0.5

b

Policy Models

0, & 1

0

c

Central Bank Forecasts

0, 0.5 & 1

0.5

3

Procedural

3

3

a

Explicit Strategy

0, & 1

1

b

Minutes

0, & 1

1

c

Voting Records

0, 0.5 & 1

1

4

Policy

3

2.5

a

Prompt Announcement

0, & 1

1

b

Policy Explanation

0, 0.5 & 1

0.5

c

Policy Inclination

0, & 1

1

5

Operational

3

1.5

A

Control Errors

0, 0.5 & 1

0

B

Transmission Disturbances

0, 0.5 & 1

0.5

C

Evaluation of Policy Outcome

0, 0.5 & 1

0.5

Total

15

11