II. Conduct of monetary policy  A. Framework for the conduct of monetary policy  On the basis of this outlook for the economy and prices, the Bank decided on a policy adjustment at its MPM in February.
The policy adjustment was decided in line with the framework for the conduct of monetary policy introduced in March 2006 and was the second such adjustment based on this framework, the first being the decision to bring to an end the zero interest rate environment in July 2006.