As the current governor of the Reserve Bank of Australia, I very much share this perspective. Ultimately, central banking is not only about finance and money; rather, it is about enhancing the economic welfare of the people we serve, primarily through achieving price and financial stability and maximum sustainable employment. [3] Melville had an important hand in setting this direction.
Asian perspectives of heterogeneity: don’t put carnivorous lions and herbivorous elephants in the same cage Here I cannot help feeling that this rule is quite congenial to the traditional Japanese, and probably Asian, view of what banks are. In Japan, loans constitute roughly half of corporate debt financing, and deposits roughly three quarters of banks’ balance sheets.