This judgment is based on recent evidence that is broadly in line with the Bank's expectations. And it is supported by the marked improvement in our economic fundamentals, which gives Canada a very good chance to weather the current economic difficulties. BIS Review 59/2001  5
And second, since a low growth rate and declining prices would be inevitable temporarily, macroeconomic policies during the period of intensive structural reforms should aim at preventing these from leading to a deflationary spiral.