Turning to the domestic areas, in the process of firms exploring new growth strategies and rebuilding the supply system for goods and services, there could be new fund demand for research and development as well as business relocation.
In 2016, Bank staff evaluated various core measures in detail, which led us to announce that we would pay particular attention to three of them.7  Chart 1: Range of core inflation measures and the output gap 2.0  %  % 2.5  1.0 0.0  2.0  -1.0  1.5  -2.0 1.0 -3.0 0.5  -4.0 -5.0  0.0 07  08  09  10  11  12  13  Range of core inflation measures (right scale)  14  15  16  17  18  19  Output gap at t-4 (left scale) Last observation: 2019Q2  The behaviour of these three core measures in recent years offers some compelling evidence for the relevance of the Phillips curve in Canada.8 Think back to 2014–15, when the price of oil plunged, growth slowed, and the economy slipped below its potential output.