The outlook for the economy and investment Let me start by making two important points from our January Monetary Policy Report and March 1st policy rate announcement. First, our outlook since mid-2016 for gradually increasing global growth is largely consistent with what we have seen in the data.
Second, heightened concerns about prospective protectionist measures mean that we should not presume that the economic disappointments we have experienced since the Great Recession are over. That said, the adjustment to the decline in commodity prices is progressing, and activity in resource-related industries appears to have bottomed out.