Further, the debt structure must be sustainable to ensure financial stability across time periods. Another important objective is to promote deep and liquid 2  BIS central bankers’ speeches  financial markets to minimize long term borrowing cost markets. The debt management policy must also be consistent with other macro-economic policies including monetary policy. 11.
Duisenberg: Effectively, there has been a considerable easing in the course of last year to the extent that the average three-months rate have in the course of last year gone down by slightly more than 100 basis points, and one third of that easing has happened in the last month, in December.