The Bank, for its part, will continue the extremely easy monetary policy, thereby backing private-sector initiatives to deal with structural problems and enhance market mechanisms. The current easy monetary policy consists of three elements. 4  BIS Review 28/2004  The first element is the provision of ample liquidity to the money market.
As a result, concerns over liquidity have almost disappeared in the money market, and financial institutions can concentrate on their businesses without worrying about raising funds in the market. The second element is the policy commitment. The Bank has made a commitment to continue the current policy until the year-on-year change in the CPI registers zero percent or higher on a sustainable basis.