On an individual bank level, “Proofing” could also mean insulating their human capital from being poached by the rival banks and also planning their man power requirements for meeting the future needs of the business. Thus, the purpose of “Future Proofing” is to prepare the employees against adverse developments in future.
For example, to the extent that the effect on inflation becomes disproportionately larger as the unemployment or output gap increases, the policy response should become more aggressive with each incremental increase in the gap. However, I’m not persuaded that there is a strong case for a nonlinear Phillips curve.