By removing the assumption that these banks will be bailed-out by the government in times of trouble and thus eliminating the implicit subsidy, the funding costs would more  1  For further information on the state of play of the regulatory reform in Europe see EU Commission’s comprehensive review of the financial regulation agenda published in mid-May 2014 (ec.europa.eu/internal_market/finances/docs general/20140515-erfra-communication_en.pdf).
Our job at the Bank of Canada is to get inflation all the way back to the 2% target. We are encouraged with the progress so far. And getting inflation down to 3% this summer will be welcome relief for Canadians. But let me assure Canadians that we know our job is not done until we restore price stability.