The answers to this question are wide-ranging, and it is out of these answers that arise the implications for the future. And, finally, what are some of the short-term possibilities and long-term concerns that this experience suggests?
6, No. 32, 2012, pp. 1571–1583. BIS central bankers’ speeches  volume and the frequent use of reserve requirements. As financial markets develop, it is likely that a cut in the short-term interest rate will affect longer-term interest rates more smoothly and thereby enhance the effects of monetary policy.