These developments have created opportunities for new entrants, not necessarily new bankers, to disrupt traditional business models and penetrate new markets. The plethora of technological products and services have helped emergence of FinTech companies who offer different ways of doing traditional services, that too in more efficient ways.
There is one other aspect of central bank autonomy which deserves mention, namely the potential impact of fiscal policy on monetary policy. Without fiscal discipline, the ability of even the most independent central bank to combat inflation successfully is severely curtailed. This is particularly true when the government has significant recourse to the central bank to finance its budget deficit.