Of particular concern for central banks is the persistence of tensions in global money markets, where market liquidity has come under severe stress and term interest rate spreads remain at levels that – though significantly lower than three months ago – are nevertheless elevated by historical standards.
This improving economic backdrop will add to the resilience of Canada’s financial system. And as such, we decided to drop the risk of prolonged weakness in commodity prices from our risk assessment. With that, Senior Deputy Governor Wilkins and I are happy to respond to your questions. 2/2  BIS central bankers' speeches