Since late last year, the Governing Council has gradually recalibrated the other monetary policy instruments to ensure that their contribution is consistent with the monetary policy stance implied by the key interest rates.
COVID-19 Much of the Central Bank’s focus this year has been on mitigating the unprecedented impact of the COVID-19 pandemic. The Central Bank’s intertwined responsibilities – consumer protection; monetary policy; prudential regulation; payments, and so on – have strong interconnections with each other.