I want to recount a bit of the Bank's history and talk about how we developed our current framework for conducting monetary policy. At the Bank of Canada, we strongly believe that targeting inflation is the best way for us to fulfill our mandate to Canadians.
Firms as a whole still strongly feel that they have excess capacity and employees, and that they should reduce their debts to restore financial soundness. Nevertheless, the number of firms that take positive action, such as increasing the amount of fixed investment, has been increasing, especially in high-growth sectors.