In line with the amendments to the Law on Latvijas Banka passed by the Parliament of the Republic of Latvia, Latvijas Banka is switching to a single-tier management model, ensuring more effective management decision-making and information exchange.
The amendments provide for management changes and discontinue the operation of the Board of Latvijas Banka. Consequently, all decisions, except those within the competence of Governor of Latvijas Banka, will be made by the Council of Latvijas Banka.