I was reading Philip Cross's article "The Limits of Economic 'Stimulus': How monetary and fiscal policy have sown the seeds of the next crisis". I came to this bit in the Executive Summary:
"Low interest rates also depress savings and therefore investment."
It is clear from the context that he is talking about the Bank of Canada setting low rates.
Most macroeconomists will freak out when they read that sentence. I freaked out too, initially. But let me try something that might be more constructive. Let me tell you about a world where what Philip Cross said is precisely correct.