In another example, the banking regulators have jointly issued for comment new guidance related to credit cards. This guidance not only deals with unacceptable practices, but also clarifies that earnings recognition of fees billed to customers should reflect the expected ability to collect those fees.
Our floating exchange rate allowed us to achieve a decline in real wages without a decline in nominal wages and to hold inflation near our target. Let me give you another example. In recent years, the demand for and the prices of Canadian commodity exports have been rising sharply. This has helped to create an economic boom, and investment flows into Canada have increased.