This raises a question of fundamental importance which requires clarification: can we expect more from monetary policy than the maintenance of price stability? The answer to this question is very clear and uncontroversial among leading academics and policy-makers: price stability is the only and the best contribution monetary policy can make to the prosperity of the euro area economies.
They are equally aware that the Bank of Mauritius has certainly no interest in street fighting with “respected” delinquent borrowers however provocative the unpleasant and unfair remarks. Any form of public retaliation against certain “law-abiding” delinquent borrowers is obviously not the business of any regulator.