What this means is that when bond rates rise in the expectation of future monetary policy tightening (that is, in the expectation of higher short-term rates), we have a choice. We can confirm the expectations by tightening, preserving the higher bond rates.
Or we can contradict those expectations by leaving policy unchanged, likely resulting in some reversal of the initial movement in bond rates  7  BIS Review 94/1999  (as the bond market comes to better understand our policy reaction function).