Thus, debt restructuring may be required under certain circumstances viz. a general downturn in the economy or in any particular sector, which result in the deterioration in the financial health of borrowers. It may also be warranted in case of emergence of legal or other issues that cause delays, particularly in cases of project implementation.
xvi During 2009 and 2010, when the policy rate was at 0.25 per cent, the Bank of Canada employed conditional forward guidance about the likely path for interest rates to provide additional monetary stimulus. Large-scale asset purchases were not conducted in Canada.