Outgoing Bank of Canada governor Mark Carney today credited the response of the central bank and the Canadian government with having meant that Canada is alone among G7 nations in not having resorted to quantitative easing, and having already begun its exit from ultra-low interest rates.

During the crisis, Carney said, "the Bank of Canada aggressively cut our policy rate until it reached one-quarter of one per cent, the lowest it can effectively go. The Bank then provided extraordinary guidance