However, giving a prominent role to money raises the question of how the monetary analysis should be combined with other forms of analysis in coming to an interest rate decision. As I wrote in a recent Financial Times article: while central banks should not neglect the important information contained in monetary developments, equally their policy decisions should not rely on money alone.
Indeed, RCBC deserves commendation for these services that enable SMEs to find out early on – by telephone or internet – if their business fits in …with RCBC’s SME initiatives. This is… therefore… a win-win program that saves time... for both the entrepreneurs seeking credit and the bank offering credit.