In open banking, there can be wide-ranging third-party arrangements such as fintech firms, intermediary firms engaged in data aggregation and other service providers which may not have a contractual agreement with the bank over which regulators can exercise jurisdiction. Further, it may be possible that several of these firms may not fall under regulatory purview of any financial sector regulator.
Other policies can support the speed with which inflation returns to 2% Can other policies help in this endeavour? In the inflationary days of the 1970s, some central bankers were so hesitant about the scope of their responsibility that they let price stability depend on others.