Given these factors, the Canadian economy could continue to contract into the second half of this year. As noted in our March interest rate decision, the Bank now expects the output gap will be considerably wider than before, and we do not expect it to begin to close until the first quarter of next year, at the earliest.
*  *  *  Director General of WAIFEM, Prof. Akpan H. Ekpo, Course Facilitators and Participants, Distinguished Invited Guests, Ladies and Gentlemen, On behalf of the Governor, Mr. Kwesi Amissah-Arthur, let me welcome you all to this opening ceremony of the Regional Course on Macroeconomic Management and Regional Integration.