We will also need to see near-term inflation expectations and measures of core inflation come down further. Let me conclude. The substantial drop in inflation over the past year is welcome news for all Canadians. But monetary policy still has work to do-our job is not done until inflation is centred on our 2% target.
That is the level that helps the economy grow sustainably, restores competitive forces in the economy and gives Canadians the price stability they need to budget and invest with confidence. With that summary, the Senior Deputy Governor and I would be pleased to take your questions. 3/3  BIS - Central bankers' speeches