The year 2013 saw a number of domestic financial institutions upgrading their IT systems to reap  10  BIS central bankers’ speeches  efficiency gains, enhance their capacity to grow their business, cater for new products, and offer better service to their customers.
The task is complicated by uncertainties regarding, in particular, the current level of the neutral rate of interest, and the strange behaviour of the Phillips curve, which seems to have flattened in a way that makes it hard to gauge the appropriate duration of our monetary support.