Turning to price developments, annual HICP inflation rates will exhibit some short-term volatility over the coming months, as we already indicated on the occasion of previous meetings of the Governing Council. According to Eurostat’s flash estimate, annual HICP inflation was 2.0% in April, after 1.7% in March.
The Bank of Canada is no exception, and we compete with many of you to recruit the brightest and the best talent. Aging will put pressure on public finances. A smaller fraction of the population will be working and contributing to public revenues, and more people will be depending on their pensions, either public or private, to maintain their standard of living.