It cannot, in terms of this framework, have any significant impact on the trend rate of growth. In fact, long-term growth can only be helped, not hurt, by low and stable inflation. However, much of the debate tends to view any slowdown in growth resulting from an anti-inflationary monetary stance as a long-term sacrifice, i.e., a downshift in trend.
An effective consumer protection regime is essential and should broadly entail: •  transparency and accountability in pricing;  •  clarity on charges and terms of financial products and services;  •  avoiding reckless and fraudulent lending practices;  •  protection of financial service consumers against over-indebtedness;  •  fair debt collections and transparent marketing practices;  •  privacy of client data including credit information sharing arrangement amongst all credit providers through credit reference bureaus;  •  ethical standards and staff behaviour in credit lending and screening practices; and  •  alternative dispute resolution mechanism.