and some imminent steps such as licensing of new banks and subsidiarisation of the foreign bank branches, on the one hand, and the changing profile and simultaneously rising aspirations and expectations of the customers on the other, should make the turf more competitive and increasingly, a buyers’ market.
Stabilisation policy since that time has been dominated by the Federal Reserve, with coordination of policies becoming especially important at major turning points in the thrust of fiscal policy - for example, when the Clinton Administration decided to make a reduction in the structural federal budget deficit the centerpiece of its economic policy strategy in 1993.