Nor can it create a fiscal and wage environment which is conducive to more private investment. At best, it could, in theory, temporarily lower real labour costs by means of a surprise inflation. Then a different assignment would simply imply dropping the goal of stability.
These measures involve decisions about the allocation of credit between specific institutions and sectors of the economy. This is usually a funtion of fiscal policy, whereas monetary policy is normally general in its application. The measures therefore start to blur the distinction between monetary and fiscal policy.