Again, on March 27th, 2020, The Bank of Canada decreased its target for the overnight interest rate to 0.25 percent "to provide support to the Canadian financial system and the economy during the COVID-19 pandemic." The decrease in interest rates is an example of expansionary monetary policy. Assume a closed economy.

In three steps, describe the channels, the monetary transmission mechanism, through which this change in policy leads to a shift of the aggregate demand curve (Hint: AD-AS model)