Quantitative easing ‘not on the table,’ Finance Minister Joe Oliver says

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The Canadian Press

joe oliverTORONTO: Finance Minister Joe Oliver says he doesn’t see any need for quantitative easing, despite the recent economic downturn.

Oliver says such a policy is “not on the table” because 90,000 jobs have been created this year and the federal government is looking forward to future economic growth.

Some experts have wondered about the possibility of quantitative easing after the Bank of Canada cut its key interest rate last Wednesday by a quarter of a percentage point to 0.5 per cent.

Quantitative easing is a monetary policy that would see the Bank of Canada purchase government securities or other securities in an effort to increase the supply of money and stimulate the economy.

Oliver delivered his comments today at Ryerson University in Toronto, where he was promoting an expanded free trade agreement with Israel.

 

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