Quantitative Easing in Canada
The Bank of Canada 2008 balance sheet expanded to $78.3 billion from $53.7 billion from the year previously—and has now been unwound and removed from the central bank's balance sheet. This specific quantitative easing represented a fifty percent increase in the size of the central bank's balance sheet. This central bank transaction was referenced under securities purchased for resale from Canada's major banks. It was termed advances to members of the Canadian Payments Association are liquidity loans made under the Bank’s standing liquidity facility as well as term advances made under the Bank’s commitment to provide term liquidity to the Canadian financial system.
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“We can slide it
Rapidly backwards and forwards: we call this
Easing the spring. And rapidly backwards and forwards
The early bees are assaulting and fumbling the flowers:
They call it easing the Spring.”
—Henry Reed (1914–1986)
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