Paul Vieira, Financial PostPublished: Tuesday, March 03, 2009
OTTAWA - With the economy in deeper trouble than it expected and its benchmark-lending rate approaching zero, the Bank of Canada signalled Tuesday it was prepared to enter unchartered territory and flood the financial system with additional cash by buying up securities in the market...
"Quantitative easing is viewed as the nuclear option for central banks, and one does not lightly banter about the use of nuclear weapons unless there is a very serious intent," said Eric Lascelles, chief economist and rates strategist at TD Securities.
Commentary: Oh great! Central Bankers are so wise that they are all following the same path. Let's increase the money supply... that will make us rich. After all it is working so well in the US economy & in England, we need to do it here in Canada. Maybe we should hire Gideon Gono (central bank governor of Zimbabwe) as a consultant to share his knowledge on massive monetary growth. You know, they say "a little inflation is a good thing"
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