This deviation was contrary to the legislation in force, and with its activity, it had endangered the solvency of the borrowers and thus presented a risk to the financial stability of the country.
As you are aware, the inflation targeting framework involves expectation management to ensure that inflation is anchored. Hence, the effectiveness of monetary policy has become more and more dependent on steering expectations of future interest rate policy. And no other policy tool plays this role better than effectively communicating the policy decision and the considerable efforts made in arriving at that decision.