To achieve this, the banks must conduct mock test of their BCP and DRP of their IT logistics, Data Centres, Communication channels at regular intervals in real life scenario and compare the ‘Recovery Time Objective (RTO)’ and ‘Recovery Point Objective (RPO)’ outputs of the mock runs with the expected planned RTO and RPO and self-judge the efficacy of the plan.
The main upside risk relates to the momentum in household spending and housing prices, while the main downside risk is that the U.S. economy could slow more sharply than expected, leading to lower Canadian exports. The Bank judges that the risks to its inflation projection are roughly balanced. On 17 October, we left our key policy rate unchanged at 4.25 per cent.