As discussed in the next section, this would enable central banks to attach greater weight, temporarily, to financial stability objectives. A closely related idea is to target the average inflation rate over some period of time rather than a range that must be held at all times, as does the Reserve Bank of Australia.
In addition, we are happy that our advocacy in sustainable microfinance has energized smaller banks, especially rural banks, into bringing in more people within the banking system, not just for a working capital loan, but also for deposits and remittances. In fact, we are leading the way for central banks in product innovation for microfinance and garnering international recognition for it in the process.