As I noted earlier, the international market was an important source of demand for the Australian market prior to the crisis. A significant share of the issuance to offshore investors was in foreign currency, but post-crisis there has only been one issue with a foreign-currency tranche.
And even though the phrase climate change doesn’t appear in the Bank of Canada Act, the central bank has a clear interest in this issue. The Act instructs the Bank “to promote the economic and financial welfare of Canada.” To carry this out, we need to understand the major forces on our economy.