The recent rise in the dollar is, in part, a reflection of the same factors that are leading to a recovery in Canada, notably the rebound in commodity prices. It is also a result of a more generalized weakening of the U.S. dollar, as global financial conditions normalize.
The workshop papers provide a rich set of analysis relevant for many of these non-standard measures that I will refer to in my remarks. Credit easing programmes Banks play a predominant role in the euro area financial system, so it was particularly important to support banks’ credit provision after the turbulence caused by the global financial crisis.