In turn, it raises important questions about the conduct of monetary policy and the need to rethink the role and purpose of central bank policy. This alone is a reason to rethink monetary policy. However, it is clear now that low rates, or quantitative easing or even negative rates, have failed. First, we need to seriously rethink monetary policy, its purpose and objectives. If so, is monetary policy an efficient policy tool?

Source: CBC News July 22, 2017 09:56 UTC