But at some point such developments could interfere with our monetary-policy stance, generally, and with our forward guidance, more specifically. So we want to make sure that monetary conditions, including money-market rates in the euro area, remain appropriate to the situation.
Randal K Quarles: Progress on the transition to risk-free rates Speech by Mr Randal K Quarles, Vice Chairman for Supervision of the Board of Governors of the Federal Reserve System, at the Financial Stability Board Roundtable on Reforming Major Interest Rate Benchmarks, Washington DC, 10 April 2019.