"When COVID19 hit the UK economy, policy rates were at their zero-lower bound (ZLB), limiting the use of conventional monetary policy to stimulate the UK economy. Indeed, it seems persistent ZLB may threaten the achievement of the Bank of England's (Central Bank for the UK) price stability goal by introducing a downward bias to achieve inflation targets under standard symmetric responses. A potential solution for this is to replace inflation targets with employment targets, i.e. the Bank of England will adjust monetary policy to achieve a determined level of employment in the economy."

This is from a news article, and I don't know how to explain how the Bank of England will use this new monetary policy to react to a negative demand shock, or explain the potential pros and cons of this. I also need to use a 3-equation model to represent this scenario, but I'm not quite sure how to do it.