We also agreed to maintain our program of government bond purchases at its current pace of $ billion a week. As we continue to gain confidence in the strength of the recovery, the pace of net purchases of Government of Canada bonds will be adjusted as required. I hope this gives you a sense of our decision-making process.
It would be instructive to quote the BCBS Chairman2 here “I would like to remind you that the Basel framework is a minimum standard and members are free to go beyond the minimum. We actually encourage that, and most jurisdictions have adopted minimum requirements that exceed the global standard.