Thus, any non-standard measure whose continuation would pose a threat to the achievement of price stability must be undone promptly and unequivocally. As I said on behalf of the Governing Council, looking ahead, not all our liquidity measures will be needed to the same extent as in the past.
Accordingly, we will make sure that the extraordinary liquidity measures taken are phased out in a timely and gradual fashion and that the liquidity provided is absorbed in order to counter effectively any threat to price stability over the medium to longer term. By so doing, we will continue to ensure a firm anchoring of medium-term inflation expectations.