In these circumstances, unchanged monetary policy parameters would in fact imply an unwarranted increase in monetary stimulus, and when one looks at the 10-year German government bond yield since the summer one might conclude that, despite fewer purchases, we had eased our monetary policy, a step which does not correspond to our plan.
Gresham's Law is usually stated simply as 'the bad currency drives out the good' and it refers to a time when all transactions used coins.