I encourage them also to be confident: their  BIS Review 11/2004  3  purchasing power will be protected in the years to come, thanks in particular to the vigilance of the Governing Council of the ECB.
While not our core projection, as a contingency the Bank is undertaking further preparatory work on unconventional monetary policy tools.17 No 17 The Bank’s published work on unconventional tools to date can be found in Drought, Perry and  Richardson (2018).