While the monetary stance is signalled through the main refinancing rate, and non-standard measures are directed towards maintaining the monetary policy transmission mechanism, standard and non-standard measures complement each other in the pursuit of price-stability , which is the mandate that our fellow European citizens entrusted us with in the EU Treaty.
In developed countries like the US and Canada, a commonly accepted guideline for affordable housing is that the cost of housing should not exceed 30 per cent of the gross income of the household. Affordable housing and low-cost housing are often interchangeably used but are quite different from each other.