The result in most cases was speculation on the currencies. It is therefore not a cost-free exercise to say that the central bank must buy $ An important issue is therefore whether policymakers should respond to exchange rate movements when they formulate monetary policy.
Carbon-intensive sectors accounted for nearly half of the bonds eligible for the corporate sector purchase programme (CSPP) at its inception. Excluding these bonds would have limited the CSPP’s coverage, making it less effective. In other words, the exclusion of these sectors would limit the tool’s suitability for its primary purpose of ensuring price stability.