In parallel as well as independently of lowering interest rates, central banks took additional steps, which have been lumped together under the heading “unconventional measures”. These measures can be considered unconventional in the sense that they altered dimensions of monetary policy which are normally not subject to change.
Unconventional measures concerned changes in the way liquidity  2  Whereby the absolute interest rate level cannot be used to rank monetary areas according to monetary stance. The way the policy rate is transmitted to the economy differs between monetary areas. See below.