These could clearly have an impact on the growth of the money stock. It is thus advisable to supplement the strategy of monetary targeting pragmatically (but not arbitrarily) by including some elements of direct inflation targeting. The multitude of additional information could be compressed in this sense into a formal inflation forecast.
But we must be careful to ensure that changes do achieve the intended goal, because that is not necessarily the case. Let’s take for example the maximum interest rate that can be applied according to the type of credit.