If this is done, sooner rather  BIS central bankers’ speeches  3  than later we will see a promising future in the global economy. No one wants the crisis from dragging on indefinitely, or that every time expectations of a solution emerge they are quickly refuted by new shocks or setbacks.
These developments likely mean a very weak second quarter and point to some continuing softness in the Canadian economy in the third quarter. Looking forward, it remains our view that growth in Canada’s economy will be underpinned by the strength of domestic demand and a rebound in the U.S. economy towards the end of 2003 and through 2004.