I will explain the implications of each point in as contemporary a context as possible. A. Adoption of quantitative indicators in money market operations  The first feature of the quantitative easing framework is the change in the operating target for money market operations from the uncollateralized overnight call rate to the outstanding balance of current account deposits at the Bank.
Whether it is possible to enhance monetary easing effects even after short-term interest rates reach the zero bound is a major issue that continues to attract debate.