There are a number of reasons why this is so, but for me, an important reason is that the more prescriptive the Code is, the easier it is to get around. Rules are easier to arbitrage than principles. If it’s not expressly prohibited or explicitly discouraged, then it must be okay seems to be the historical experience.
In the coming period too monetary policy will be predictable and consistent in delivering low and stable inflation in the medium term, which, along with preserved financial stability, will contribute to sustainable economic growth and stronger resilience to external uncertainties.