I wish they'd put interest rates back to say 0.1, and if they want to loosen monetary policy, just do either similar to Alaska, and print money to pay for sending everyone a cheque, or make a deal with the government, that they'll print and then give them $X - as long as they use it on some new spending that will be done quickly.
Remember, the reason they are doing this is because inflation is too low (or negative). What's the problem with reserve banks printing money - it causes inflation. The question is, just how much to do.
Down here in Australia, the government sent cheques out to people (i.e. free money), and went on an infrastructure binge (every school in the country got a new building). All this was pretty much paid for by debt. But with low/negative inflation, just do the same, but print it!