This realisation phase could take three years and would include the development and testing of technical solutions and business arrangements necessary for actually issuing a digital euro.
Forward guidance gained prominence with the emergence of time and state-contingent guidance, with assurances on the Reserve Bank’s commitment to maintain congenial financial conditions. Communication became a significant part of our monetary policy toolkit. 13. The onset of the war in Ukraine again weakened risk sentiment,  with commodity prices and inflation rising to multi-decade highs.