Although steady progress has been made, there still remains a fairly long way to go before we feel  4  BIS Review 46/2003  confident that the NPL problem is fully resolved. The complete removal of blanket deposit insurance is still being postponed. Market-based credit intermediation, which can function as a substitute or complement for bank lending, has not yet fully developed.
Chart 3: The new measures of core inflation have shown they are more effective than CPIX at looking through sector-specific shocks Year-over-year percentage change, monthly data  Sharp rise in auto insurance premiums  % 4 Run-up in meat prices  3 2 1  Deflation in auto prices  0 1995  1997  1999 2001 2003 2005 2007 2009 Range of preferred measures of core inflation  Sources: Statistics Canada and Bank of Canada calculations 15  2011  2013 2015 CPIX inflation  Last observation: December 2016  For CPIX, the weight on services is about 56 per cent, according to the 2013 Survey of Household Spending.