For example, in 1979 the Sydney Futures Exchange was the first derivatives market outside of the United States to introduce a contract based on a financial instrument when it introduced the futures contract on 90-day bills. Australian financial markets have become larger and more diverse over time and are now regarded as both sophisticated and deep.
Under such a policy, the response to inflation should, in my view, be more aggressive than it would otherwise be, for example, in the Taylor rule under certainty. This is an example of offsetting the attenuation in the response to the output gap with a more aggressive response to inflation realizations.