These are just some of the things on my mind, and they arise just as the Bank prepares to renew its inflation-targeting agreement with the government, which is scheduled for 2016. The technical issues directly related to that agreement were laid out in a speech in Calgary in November by my colleague, Deputy Governor Agathe Côté, which I recommend to you.
But it should be clear that the lessons of the recent crisis are colouring the research agenda. As Agathe Côté said in her speech, nothing is broken, and the bar for changes to the inflation-targeting agreement will be high. In spite of the financial stability issues I have raised today, inflation targeting has served us well, and we remain committed to the concept.