These measures are beginning to have an impact. As part of our research for the renewal later this year of our inflation-control agreement with the Government of Canada, the Bank is examining whether there may be cases in the future where monetary policy should play a supporting role to these other lines of defence by taking pre-emptive actions against building financial imbalances.
5 Conclusion Sound household finances are a key element of a balanced economy. They are essential to keep household spending and overall economic growth on a sustainable track and to maintain the stability of our financial system. This is why the Bank is closely watching developments in this area.