In the above discussion, it is clear that in order to halt the continuous decline of prices, it is most important to promote a sustainable, not temporary, growth in aggregate demand.
The expansion over the past six months has exceeded our earlier forecasts, and we have revised up our outlook for average annual growth in 2017 to a bit over 2 1/2 per cent, one-half percentage point greater than we projected in the January MPR. We project growth of just under 2 per cent in 2018 and 2019.