That also diminishes the legal risk involved in that kind of programme. But the fact remains that these purchases cause fiscal policy and monetary policy to become even more strongly intertwined.
6/7  BIS central bankers' speeches  In my view, the current economic outlook together with the improvement in the balance of risks suggests that the Governing Council is beginning to discuss whether and when it will be time to adjust our forward guidance. 6. Conclusion Ladies and gentlemen, I recently read a new book entitled “The seventh function of language".