These have helped to reduce the costs of finance to historically low levels, and have been supporting the supply of credit to businesses and strengthening household and business balance sheets. The Term Funding Facility (TFF) provides low cost term funding to banks.
Central banks have made considerable progress in recent years in integrating big new datasets into their policy analysis and decision-making. Granular data collected by central banks themselves have, in particular, become an indispensable source of information for policymakers.