And I know that it is not always easy for you to deal with this uncertainty. In the meantime, however, you have significantly more planning certainty. What were until recently loose guidelines are now becoming concrete. It is clear, for example, that Deutsche Bank, as a global systemically important bank, has to hold an additional capital buffer (G-SIB buffer) of 2%.
My message today is twofold—of increased confidence and of continued attention. A year ago, at the time of my first MPR as Governor, the economy was in a very deep hole. We were just coming out of the first wave of the virus, more than two million Canadians were unemployed, and inflation was well below our 1 to 3 percent target range.