ELI5: Explain Like I'm 5

Zero interest rate policy

Zero interest rate policy (ZIRP) is a type of economic policy that involves a central bank setting the rate at which it lends money to other banks at 0%. This means that commercial banks get money from the central bank without having to pay interest. This kind of policy is usually used to try and help boost the economy. Basically, it is designed to encourage people to borrow and spend money, which will help the economy grow.