So it’s a very unusual, sector-specific asymmetric slowdown at the moment, which is not general across the economy but very, very visible in manufacturing.
11  12 13  See, for instance, Witmer, J. and Yang, J. “Estimating Canada’s Effective Lower Bound”, Bank of Canada Review, Spring 2016 or “Banks look for cheap way to store cash piles as rates go negative”, Financial Times, August 16, 2016. See Broadbent, B. “Central banks and digital currencies”, speech at the London School of Economics, March 2016.