Are low interest rates indicative of an expansionary monetary policy by the central bank? READ?

The answer is certainly true in all kind of models. It is an expansion policy during the recession.In the clical loanable fund model, the rate is an equilibrium.It will not go to the point near zero as we can see it right now. And it depends on the market,not the central bank. In the Keynesian model of IS-LM framework, it is because the supply of money that shift to the right.And this will affect the LM curve. It will show the expansion policy as usual.