The first noteworthy characteristic of the statements is that they have been visionary. In fact, the statement of February 6, 2020 ahead of the formal declaration of the pandemic seemed to have a premonition of the dark days that were to follow.
This is reflected in the manner in which it assured markets that policy space is available for future action, which needs to be ‘suitably timed’ and ‘used appropriately’. The March 27, 2020 statement called on the nation to mount a war effort to combat COVID-19, while emphasising that ‘tough times never last; only tough people and tough institutions do’.