While non-standard monetary policy measures can be used to ease policy further when policy rates have reached their effective lower bound, these too will eventually run into economic restrictions, when increasing side-effects start to outweigh the diminishing marginal returns of further easing.
In turn, manageable inflation has given us ample leeway to maintain low interest rates that support continued economic growth. We also implemented liquidity-enhancing measures to help relieve possible stresses in the financial system coming from the global downturn.