As other central banks have demonstrated, we have not reached the physical lower bound. This re-composition of the tool-box does not mean that we have thrown away any of our tools.
If new negative shocks should worsen the outlook or if financing conditions should not adjust in the direction and to the extent that is necessary to boost the economy and inflation, a rate reduction remains in our armoury. On corporate bonds purchases: would this instrument be accessible for companies like, let’s say, Volkswagen? Yes, as long as they have investment grade.