With policy rates near the zero lower bound and likely to return there more frequently even if the economy only experiences shocks similar in magnitude to those experienced pre-crisis, due to the low level of the neutral rate, there is an asymmetry in the policy tools available to respond to adverse developments.
It is precisely for this purpose that the Bank further relaxed its monetary policy in February, and the Bank believes that as of now it has taken all necessary measures. The Bank is also determined to maintain an easy monetary policy stance until the economy gets back on a steady recovery path.