There is now virtually unanimous opinion among economists and policy-makers around the world that central banks can’t engender faster economic growth by being more tolerant of inflation. On the contrary, there is a virtually unanimous view that the best thing that monetary policy can do for economic growth is to keep inflation low and stable.
The latest financial crisis clearly underscored that financial markets need strict and prudential regulation. Otherwise, they cannot perform their function of serving the real economy, and the stability of the financial system could be put permanently at risk. A prosperous economy needs a healthy and efficient financial system. Well-designed financial services help economies to grow.