In fact, inflation has been surprisingly soft recently in much of the developed world, not just Canada. I will have more to say about this in a few minutes. Since inflation has been so consistently in the lower half of the target band, our risk-management approach to monetary policy led us to pay greater attention to forces pushing inflation down.
As such, Banco de México has incorporated SRI considerations within the fixed income holdings in its own portfolios, including debt issued by supranational organizations, government sponsored entities, and corporations. Implementing SRI does not imply a financial return trade-off, as responsible and ethical firms are less likely to experience unforeseen losses and are more likely to outperform non SRI securities in the long run.