Canada is fortunate to be both, and we shouldn’t ignore the resources that we have been blessed with. Natural resources bring opportunities. Over the years, Canadians have used our endowment to build a prosperous economy. We will continue to do so. And rather than resist market forces, Canadians should heed the signals sent by price movements.
We’ve adjusted to rising prices; we can adjust to falling ones. These adjustments are never easy. They are often difficult and painful for affected individuals and their families. But they are necessary. For our part, the Bank of Canada will continue to promote low, stable and predictable inflation.