There are two main upside risks, relating to higher commodity prices and the possibility of greater-than-projected momentum in the Canadian household sector. BIS central bankers’ speeches  1    The two main downside risks relate to Canadian competitiveness and the possibility of weaker-than-projected household expenditures in Canada.
12 On a more general note, by including monetary analysis in their monetary strategy, central banks can ensure that important information stemming from money and credit, typically neglected in conventional cyclical forecasting models of the economy, is considered in the formulation of monetary policy decisions.