In other words, should interest rates be raised even if, taking into account all possible indicators, price stability is not endangered but there are risks of an asset price bubble building up? I personally think that a case has not yet been made for such a course of action. It would imply that monetary policy follows two objectives with only one instrument, i.e.
The SBP’s regulatory approach towards promoting and strengthening of corporate governance has been successful in inducing a positive change in the corporate governance  2  BIS central bankers’ speeches  culture in the banking sector that has transformed them into healthy and profitable financial institutions.