To get it back to more normal levels, we need to slow spending in the economy so supply can catch up with demand. This will help relieve price pressures here in Canada. In September, we raised our policy interest rate for the fifth consecutive time since March.
The sudden imposition of the lockdowns certainly forced many firms to speed up their adaptation to different ways of work and of doing business, which, if implemented on a larger scale in the coming years, could 4  See ‘Productivity and GDP prospects: some gain, much at risk’, Global Economic Outlook and Strategy, Citi Research, August 2020.