Because that 1.5 per cent core rate is also below the Bank's 2 per cent target for inflation, can we assume that inflation in Canada is not much of a problem? I wouldn't want to go that far, but the relatively low level of CPIX does provide at least some reassurance that inflationary pressures are reasonably contained.
Finally, an appropriate restructuring of the banking sector should play an important role. Sound balance sheets, effective risk management and transparent, robust business models are key to strengthening banks’ resilience to shocks and to ensuring adequate access to finance, thereby laying the foundations for sustainable growth and financial stability. We are now at your disposal for questions. BIS Review 62/2010  3