As CFAs, you know that time is at the centre of every financial decision you make or advise on. The Bank of Canada’s mandate – to deliver low, stable and predictable inflation – is fundamentally rooted in the importance of time. Our job is to make sure that those longerterm decisions are not wrong-sided by unexpected changes to the value of money.
It has therefore become even more important that European countries are able to pool their resources and exploit economies of scale. The second reason is changes in the structure of international relations linked to technology and the environment.