When the asset purchases began, the forward guidance was expanded to include a pledge that the net purchases would continue until a certain point in time or beyond, if necessary. In any case, they were to continue “until the Governing Council sees a sustained adjustment in the path of inflation consistent with its inflation aim”.
In fact, over the past three decades, you have issued 46,000 loans worth a total of $ billion.1 These numbers are impressive, and these loans have made a huge contribution to the prosperity of the Indigenous economy. But we all know much more needs to be done. The Bank of Canada is committed to supporting you in these efforts.