Indeed, he recalled that, after having ‘invited him to describe the economic situation to him as clearly as possible […] Spadolini listened very closely, took several pages of notes in his own handwriting and when he had finished, commented that the outlook he had described was even bleaker than he had thought.
First, the economic outlook has improved, and Governing Council is more confident in the resilience of the economy to the pandemic. Canadian households and businesses are adapting to the virus, finding new ways to shop, serve customers and work remotely. More important still, the rollout of vaccines is progressing, and we expect better times ahead.