The Bank of Canada will continue to run an independent monetary policy, anchored by our inflation target, and we will use our tools to manage risks along the way. BIS central bankers’ speeches  5
This analysis took into account New Zealand specific factors and captured household risk-aversion.18 As with findings from similar types of analysis in the international literature, there is a wide range of plausible calibrations. However, this analysis ultimately showed that a capital ratio of 18% (or 17%) is in the mid-point of our range of estimates for the ‘optimal capital ratio’ for New Zealand.