In particular, as I mentioned at the outset of my remarks, we at the Bank  8  BIS Review 42/2008  of Canada are continuing our analysis of the unusually wide credit spreads that we've been seeing and what these mean for the stability of the financial system and, potentially, for the economy, inflation, and monetary policy.
It's very clear that these unusual spreads, and the financial market upheaval that exacerbated these spreads, will continue to have an impact for some time to come. We do not know just when or how this turmoil will ultimately be resolved.