About the Markets Committee

The Markets Committee (formerly the Committee on Gold and Foreign Exchange) was established in 1962 following the formation of the so-called Gold Pool. Subsequently, members continued to meet and exchange views on market issues in an open and informal manner. Over time, the Committee has widened its discussion of financial market developments beyond gold and foreign exchange, and cooperated more closely in assessing current events as well as longer-term structural trends that may have implications for financial market functioning and central bank operations.

To facilitate its discussions and enhance market transparency, the Markets Committee condensed the information on the monetary policy frameworks and market operations of its members into an easily accessible document: Monetary policy frameworks and central bank market operations, first published on 17 December 2007 and last updated in October 2019.

Recent publications 



The Committee comprises senior officials with expertise in central bank operations and their interactions with financial markets. Member institutions are: 

Reserve Bank of Australia Central Bank of Malaysia
National Bank of Belgium Bank of Mexico
Central Bank of Brazil Netherlands Bank
Bank of Canada The Central Bank of the Russian Federation
People's Bank of China Monetary Authority of Singapore
European Central Bank South African Reserve Bank
Bank of France Bank of Spain
Deutsche Bundesbank Sveriges Riksbank
Hong Kong Monetary Authority Swiss National Bank
Reserve Bank of India Central Bank of the Republic of Turkey
Bank of Indonesia Bank of England
Bank of Italy  Board of Governors of the Federal Reserve System
Bank of Japan Federal Reserve Bank of New York
Bank of Korea                      


Jacqueline Loh, Deputy Managing Director at the Monetary Authority of Singapore (MAS), was appointed in 2017 for an initial three-year term and re-appointed in 2020.


Mathias Drehmann, Bank for International Settlements

Frequency of meetings

The Committee normally meets on the occasion of the bimonthly meetings of Governors of BIS member central banks. There are no public releases of the meeting agendas or discussions.

Reporting arrangements

The Chair reports to the Global Economy Meeting, which comprises a group of 31 BIS member central bank Governors.