It directly affects the Canadian dollar price of everything we import and export, thus sending strong price signals to businesses and consumers. Terms-of-trade shocks and the flexible exchange rate As an open economy and a major producer of commodities, Canada is very much affected by swings in the world demand for, and prices of, our products.
We have adopted a bank-led approach for financial inclusion in the country and encouraged the leveraging of technology while remaining neutral to the technology choice made by individual banks. The effort made by all stakeholders has resulted in increased reach of banking services to hitherto excluded remote locations.