In light of these risks, the Bank will have to continue to monitor the situation very carefully. In sum, the Bank remains positive about Canada's economic prospects. We continue to expect that the economy will grow by between 2 and 3 per cent this year and return to a somewhat higher growth path in 2002.
This judgment is based on recent evidence that is broadly in line with the Bank's expectations. And it is supported by the marked improvement in our economic fundamentals, which gives Canada a very good chance to weather the current economic difficulties. BIS Review 59/2001  5