16 In Gauweiler, the Court accepted that measures intended to preserve the monetary transmission mechanism may be regarded as pertaining to the objective of maintaining price stability, thus falling within the mandate of the ECB.17 Addressing issues of financial stability in order to promote price stability is therefore possible with two caveats: First, price stability enjoys primacy.
This degree of stimulus was in part  BIS central bankers’ speeches  5  necessitated by the considerable external headwinds facing the Canadian economy, including weak U.S. activity and the persistent strength of the Canadian dollar. Since then, the Canadian economy has been hit by major shocks.