And it also supports our decisions on the choice, design and calibration of instruments that deliver the required monetary policy stance. In this sense, our analytical framework enables us to ensure that the blend of our policy instruments is proportionate to the 2/6  BIS central bankers' speeches  circumstances and challenges that we face in the pursuit of price stability.
To examine the impact of the Bank's easing policy on banks' profits, Chart 2 compares the actual deposit-taking and lending-related profit as a result of the increase in lending and decline in interest rates since the introduction of QQE (where profit is calculated by subtracting interest on deposits from interest on loans) as well as hypothetical deposit-taking and lending-related profit had QQE not been introduced.