We’re expecting to see it again as the economy continues on its way home, toward natural, self-sustaining, and balanced growth at full capacity. What I’d like to do today is talk about how the voyage is going. We don’t have a bridge, so the economy can’t avoid the choppy waters. However, there are signs that tell us we’re headed in the right direction.
It’s important for the Bank to be transparent about the signs we watch, both because financial markets should make their own judgments about what we will do and because our monetary policy works better when Canadians understand what we’re doing, and why.