Given the low level of the target for the overnight rate, the Bank is refining the approach it would take to provide additional monetary stimulus, if required, through credit and quantitative easing. (slaw.ca)
But despite making the cost of borrowing money nearly free for almost a decade, as well as injecting trillions of dollars worth of additional monetary stimulus into the global economy, the efforts have failed to deliver the intended result: robust, sustainable growth. (moneysense.ca)
Back then, at the height of the financial crisis, we believed that our key rate was at its effective lower bound, and we would need other tools in order to provide any additional monetary stimulus. (bankofcanada.ca)