If we tried to offset  4  BIS central bankers’ speeches  these currency movements, we would end up frustrating the natural shifts in economic resources. By focusing on our mandate to keep inflation low, stable and predictable, the Bank has built up credibility, and Canadians have well-anchored inflation expectations, even in the face of large price swings.
Graeme Wheeler: Cross-border financial linkages – challenges for monetary policy and financial stability Speech by Mr Graeme Wheeler, Governor of the Reserve Bank of New Zealand, to the Bank for International Settlement (BIS) Conference on Cross-border Financial Linkages, Wellington, 23 October 2014. *  *  *  On behalf of my Reserve Bank colleagues, I bid you a warm welcome to Wellington.