Please write an essay on Bank of Canada’s monetary policies. In your essay, please include but not limited to the discussion of the following. (800-1000 words plus graphs). No citations needed. No plagiarism of course. 1). Describe the Bank of Canada’s Price Stability Goal and the inflation targeting. Explain the Bank of Canada’s overnight interest rate target and the policy implementation process in the market for reserves. Draw the graph of the reserve market to support your explanation. 2). What is Quantitative Easing? Draw a graph (including the T-accounts for BOC and other banks) to explain Quantitative Easing. 3). During the pandemic, Bank of Canada has adopted several monetary policies to stabilize the economy. Please list these policies and explain how they have or have not worked in our economy (e.g., effects on aggregate demand and external value of Canadian dollars). 4). Since the current total CPI inflation rate soars to almost twenty years high, what monetary policies would you expect or suggest Bank of Canada to adopt in 2022? And explain why or why not.