To use Monetary Board Member (MBM) Tony [Abacan]'s favorite phrase, "The three pillars are in good hands." Improving monetary policy formulation through technology In the area of monetary policy formulation, we are investing in better models and leveraging Big Data and advanced analytics to improve our forecasting and analytical abilities, thereby adding to our toolkit of market surveillance and evidence-based value judgment.
(2019), “A tale of two decades: the ECB’s monetary policy at 20” , Working Paper Series, No 2346, ECB; Brandao-Marques L, Casiraghi M, Gelos G, Kamber G and Meeks R. (2021), “Negative Interest Rates; Taking Stock of the Experience So Far”, IMF Departmental Papers/Policy Papers. 2 For  more information on the work streams see www.ecb.europa.eu/home/search/review/html/workstreams.en.html.