The Bank will provide a full update of its outlook for the Canadian economy on 23 April when it publishes its Monetary Policy Report. Prospects for recovery: restoring global confidence The timing of the global and Canadian recoveries depends crucially on two related factors: the stabilization of the global financial system and the restoration of confidence among households and businesses.
In this regard, regional cooperative organizations such as the ADB, ASEAN+3, SEACEN, EMEAP and indeed this meeting are very important for policy coordination in the Asia-Pacific region. While we live in a global economy, we know that there is no global jurisdiction. Under such circumstances, it is likely that a state of multiple equilibria prevails. Good and bad equilibrium can coexist for some time.