BIS Review 36/2007  3  While dealing with uncertainty is a challenge for all central bankers, Canadians no longer have to worry about one form of uncertainty that plagued us in the 1970s and early 1980s: that of high and variable inflation.
All the same, I believe that the resilience of the households should be strengthened on account of their high debt ratios. After all, tax cuts, special pension savings disbursements and very low interest rates might not be on the agenda the next time a crisis comes knocking on our door.