Implications for monetary policy It is not the Bank of Canada’s role to determine the extent of adjustments needed from each of us – government or private sector, households or businesses, current or future generations. This depends on our values and goals as a society and this is something that Canadians will have to decide on collectively. So what is the Bank’s role here?
Instead, I will focus on the prospects for, and obstacles to, greater proportionality, before wrapping things up by outlining what greater proportionality in the EU might look like. 2. Why do we need greater proportionality? The arguments in favour of greater proportionality are myriad – you have doubtless spoken about many of the reasons for it at this conference already.