First of all let me say that any comments in this regard should be considered as preliminary, since the process of adjustment to the challenges faced has not concluded. It should also be kept in mind that the experience of one country 7  cannot automatically be considered as suitable for other economies. With these caveats in mind, I would underline the following: 1.
13  The Bank of Canada also assigns the monetary aggregates a more prominent role in the conduct of monetary policy. Freedman (2000) provides a summary of the role of the monetary aggregates at the Bank of Canada. 14  See Angeloni et al.