Along with this, a number of ad hoc measures were also taken. As the crisis abated, even if inflationary pressures had not manifested as they did, the need to exit from the crisis management stance would have motivated some actions on rates and liquidity – of course, at a pace that would not derail the still incipient recovery.
This process began in October 2009, with the withdrawal of most of the ad hoc measures, but gained momentum in January 2010, with an increase in the cash reserve ratio and, further, in March 2010 with the first of a series of rate hikes.