For all these reasons, it seems important from a policy perspective to develop and employ non-linear modelling and estimation techniques. IV. Concluding remarks  To sum up, over the past decades, tremendous progress has been made towards making monetary policy more of a science. Undoubtedly, this has contributed to enhancing the effectiveness of monetary policy.
This change in perspective is embodied in the new Basel standards for the banking system. Graph 3  One notable change is the rise in the share of deposits from less than 40 per cent in 2007 to over 45 per cent currently. The Deputy Governor Ric Battellino talked about this at this conference last year.