This does not imply abandoning the idea behind the Phillips curve as a pure forecasting device with a positive slope coefficient indicating that strong growth of aggregate demand, given time, will increase inflation.
When completed and passed by Parliament, these pieces of legislation should help improve  the  credit  underwriting  process  and  facilitate  enforcement of loan and collateral agreements by banks and other regulated institutions. 15. Madam President, banks have adopted and are implementing  the global credit risk management and financial reporting standards.