Although global inflation went up in 2011, it did not present a medium-term threat to the need for monetary policy to address the slowing economic activity; neither did it present a threat to the need to address persistent high unemployment and idle capacity in major economies.
While in the long run it will converge, in the short run, the dilemma and the tradeoff underlying the debate between financial access and financial consumer protection may be very real to the Governments and policy makers. After all, developed countries have both high levels of access to formal financial sector, and relatively elaborate financial consumer protection measures after four decades of evolution.