First, it is necessary to keep a careful watch on preventing a significant supply-demand imbalance. As I mentioned earlier, the pace of the expansion of the economy's supply  7  capacity eventually may slow in the longer term. Meanwhile, yield curve control contains a mechanism of amplifying its own easing effect as inflation expectations rise and the economy's growth potential increases.
Data from Statistics Canada point to a possibly worrisome trend. Productivity growth in this sector has declined from an average of 2.8 per cent per year in the 1990s to just over one-half per cent in this decade. But there is an important caveat here.