Rates so low seem to be depressing the dollar and pushing commodity prices upward, and the central bankers might be expected to try to tightenup their monetary policy if there was any serious signs of inflation or if the economy wasn't seen teetering on the verge of recession.
In other words, instead of setting a date for interest rates to go up and easy monetary conditions to tighten, they would seek to tie those decisions to variables that reflect their dual mandate (i.e. price stability and full employment).
An inflation pinch, attributable to rapid growth hitting up against the constraints of a still hidebound economy, led the central bank to tightenmonetary policy.