At that time, private institutions and markets were about to collapse completely. BIS Review 68/2010  1  That triggered a very bold and comprehensive financial support by governments. And now we see the signature of some governments put into question. This is a problem for almost all industrialised countries.
Specifically, in addition to committing itself to the price stability target, the Bank provided a time frame, pledging that it would achieve the price stability target of 2 percent at the earliest possible time, with a time horizon of about two years. The second pillar consists of underpinning the first pillar – the commitment – with specific actions.