So while the monetary policy instruments were indeed used, the objective of this generalised, gradual tightening was quite different from the requisite stronger action in respect of bank exposures to sectors such as real estate. 16.
While income inequality has been increasing since the 1970s, over the past two decades the process has been characterized by what some have called polarization, with those at the top of the distribution accumulating a significantly larger share of income, those at the bottom of the distribution experiencing modest relative gains, and those in the middle of the income distribution falling further behind in relative terms.