If there are several passengers pulling at the wheel as the car is about to drive off a cliff, airbags and seatbelts aren't going to help you. So banks need to be aware of their decision-making procedures and promote a healthy company culture in order not to hamper effective governance and strategic steering.
o  Raised interest rates  o  Tightened liquidity  o  Issued credit guidelines  o  Tightened borrowing limits by non-residents  However, monetary policy is not enough because: o  Heavy reliance on monetary policy will result in further interest rate increases  o  The full effect of interest rates on demand takes a long time  o  Further interest rate hikes could slow and dampen investment  •  Hence, monetary and fiscal policies must work together and share the burden of sustainability  •  Fiscal policy has a greater influence on the economy: o  Fiscal decisions have an immediate impact  o  The impact is also greater than monetary policy  •  While, the higher fiscal deficits in the past worked well to raise economic growth, we now need to relook at our strategy to secure sustainability  4.