ZIRP (Zero Interest Rate Policy) is a method of stimulating growth while keeping interest rates close to zero. Under this policy, the governing central bank
can no longer reduce interest rates, rendering conventional monetary policy ineffective. As a result, unconventional monetary policy such as quantitative easing
is used to increase the monetary base.
Read more: ZIRP Definition | Investopedia http://www.investopedia.com/articles...olicy-zirp.asp