As a consequence, each central bank is well advised to react to foreign developments only if these become relevant for domestic price stability. I therefore fully agree with John Taylor’s conclusion that central banks should not mechanically follow other central banks’ policy decisions.
With respect to moratoria, commercial banks have approved the following: For economic operators, an amount of Rs6.6 billion has been granted as moratorium on capital repayment for a period of six months on outstanding loans amounting to Rs45 billion; For SMEs, an amount of Rs467 million has been granted as moratorium on both capital and interest payments for a period of six months on outstanding loans amounting to Rs3.1 billion; For individuals, an amount of Rs53 million has been granted as moratorium on both capital 2/4  BIS central bankers' speeches  and interest payments for a period of six months on outstanding loans amounting to nearly Rs600 million; For households, an amount of Rs140 million has been granted as moratorium on capital repayments for a period of six months on outstanding loans amounting to nearly Rs2.3 billion.