From the very beginning of the financial turmoil we set up a strict separation principle between our standard measures, namely the interest rate decisions, which are designed to deliver price stability, and the non-standard measures, which are designed to help restore a better transmission of our monetary policy, taking into account the abnormal functioning of some markets.
1/3  BIS central bankers' speeches  Climate-related risks are a source of instability and financial vulnerability. Physical and transition risks, like more frequent and more extreme weather events or a late and abrupt transition to a low-carbon economy, could affect the transmission of monetary policy and pose risks to price, financial and economic stability.