Carolyn Wilkins: Financial stability in an uncertain world

Remarks by Ms Carolyn A Wilkins, Senior Deputy Governor of the Bank of Canada, to the International Finance Club of Montreal, Montreal, Quebec, 19 November 2019.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Central bank speech  | 
20 December 2019


It's always a pleasure to be here in Montréal. I'd like to thank the International Finance Club of Montréal for the invitation.

Today, I'd like to speak with you about financial stability in Canada, in a world that seems more and more uncertain. This is part of our commitment to update Canadians twice a year about financial-stability issues that are relevant to them.

The Canadian economy is performing relatively well overall. Inflation is close to target, the unemployment rate is near historic lows, and wage growth has picked up. There are, nonetheless, important regional differences. The Quebec economy is performing particularly well these past few years, bringing many people back to work. However, the ongoing adjustment to lower oil prices continues to weigh on economic activity in the energy-producing provinces, causing hardship for many people.