The central bank faces a trade-off while using its interest rate policy. So, the policy is not very effective. Also, the prevailing policy for macroeconomic stability has adverse side-effects for asset price stability, interest incomes, and pension funds. The prevailing interest rate policy includes a quasi tax-subsidy scheme by the central bank. This paper proposes a clear tax-subsidy scheme by the treasury. This is not just a very different form; the change provides an additional policy tool. With this, the proposed policy regime can achieve macroeconomic stability effectively, transparently, and with minimal adverse side-effects.