I hope this makes it clear that what the Bank of Canada has in mind, and is aiming for, is a “gradual easing off on the accelerator” in the months ahead, so that there will be no need to “slam on the brakes” later on.
Making the most of the economy’s production potential Next, let me say a few words about the challenges that await us further down the road. One of the more remarkable international economic developments of the past few years has been the performance of the U.S. economy.