Let me emphasise that our non-standard measures do not in any way impinge on our capacity to tighten our monetary policy stance in response to inflationary pressures. There is a clear separation principle between our non-standard measures and our interest rate policy. Interest rate policy depends on the outlook for price stability.
The use of nonstandard measures depends on the functioning of the monetary policy transmission and must be commensurate with the level of malfunctioning or disruption of money and financial markets and segments of markets. This separation principle is strictly applied.