This explains why the T-Bill [Treasury-Bill] rate is lower than the policy rate. So, these are all the things we are asking. The extent to which these things that look like solutions to any problem that we do not like, eventually, unintentionally become the root of instability.
In answering these questions we can draw lessons from the economic transition of thirty years ago. For example, I recall the debate about ‘gradualism’ versus ‘cold turkey’. Some reforms, like changing relative prices, you may have to do as soon as possible. Others, like changes in productive capacity, will take more time.