We should not, just because of sentimental reasons, make use of a new freedom to invest funds abroad when a local investment will serve our needs better and more effectively. 4. Monetary policy in an environment of no exchange controls The new situation brings new challenges also for monetary policy.
The Bank conducts research on the factors that influence choices in means of payment, and we monitor trends. This helps us to understand the role of bank notes in transactions, and to forecast demand. I'll now say a few words about the Bank's second area of responsibility: funds management.