In particular, end users who want to continue to use LIBOR will certainly be able to do so, and we will work toward the goal of ensuring that any changes to LIBOR will not require borrowers or lenders to amend their existing contracts.
However, their pace will be influenced by external headwinds, notably the effects of lower commodity prices on Canadian incomes and wealth, as well as by record-high household debt. Housing activity is expected to slow from record levels.   Government spending is not projected to contribute to growth in 2012.