Jordi is a professor at Pompeu Fabra University (UPF), a research professor at the Barcelona Graduate School of Economics (GSE) and a senior researcher at the Centre for Research in https://www.bundesbank.de/en/press/speeches/introductory-panel-statement-846034  3/5  30/09/2020  Introductory panel statement | Deutsche Bundesbank  International Economics (CREi).
This suggests two things: first, the introduction of negative rates, while having a powerful easing effect on the monetary policy stance, has created uncertainty about how low we are prepared to go with our key interest rates. Second, any perceived communication on the lower bound is a strong signal.