In part owing to this supervisory action, the downward trend in the coverage was reversed, though with markedly varied results. The average increase exceeded 5 percentage points over the following two years.
Of course, with the passage of time, the "long term" turns into the "near term." And in my remarks today, I want to discuss an issue that has gone from being a long-term, theoretical question to being a near-term, practical consideration for monetary policy; that is, the impact of Canada's aging population on our economic potential.