But what we must strive to bring about is a culture where the consumer is treated as a good human being by focusing on the values of fairness, transparency, and non-discrimination. Going forward, customer-centricity will be a must for the regulators and the regulated entities alike in the wider interest of financial stability, an essential cornerstone of which is consumer protection. 24.
So if this option is not feasible or desirable, and if fixed exchange rates are not the answer (for some other reason), then the third main alternative to unconstrained discretion for monetary policy is some form of inflation targeting.