Governing Council will continue to ensure we use the right tools for the right job, and that our response is proportional to the level of financial system or economic risk we see. The Bank is prepared to augment the scale of any of its programs if needed to support market functioning.
And if further monetary stimulus is required to meet our inflation target, the Bank has tools available to deliver that stimulus. Yesterday’s decision Let me turn now to the economy and talk about the discussions that led to our monetary policy announcement yesterday.