The Reserve Bank always welcomes such opportunities to explain to the Honourable Members of Parliament what, why and how we do the work that we do.
However, the new economy could change the information content of the monetary aggregates. For example, electronic money could increase the velocity of money, because people will be able to economise on their money holdings, only accessing money when they need to spend it. Also, structurally higher productivity growth will eventually lead to higher trend growth in the euro area.