As you can see, actual liquidity demand exceeded the levels necessary for minimum reserve requirement purposes: look at the significant volumes of cash deposited overnight with the ECB by counterparties on the liabilities side of the balance sheet. The measures stabilised the economy.
Interest rates have also been lower in both nominal and real terms across a range of maturities. More broadly, low, stable and predictable inflation has helped to encourage more stable economic growth in Canada as well as lower and less-variable unemployment. 2.