This revision implies that monetary policy will provide more support for economic activity over a typical business cycle than had been the case, in order to prevent longer-term inflation expectations—and, ultimately, inflation itself— from settling below 2 percent.
Second, the G20 has promoted a format for discussion and coordination of policies in some key areas. One good example is the work of the Financial Stability Board. Established at the time of global financial crisis, it started with the overhaul of the regulatory and supervisory regimes of the financial system, in particular of the banking sector.