In acknowledgement of the limited resources for our research functions and data availability being a real constraint in our small island economies, such collaboration should assist in addressing these challenges. Expanding our collaboration to other institutions will also help better communicate our policies to the public, improve our credibility as policymakers and contribute to the general knowledge that benefits society as a whole. 3.
This bodes well for the future, since it underpins the significant momentum we expect to see in economic activity as the year progresses. This is not to say that there are not uncertainties or risks in the economic outlook, or that the Bank of Canada will not remain alert to unfolding developments. But, overall, the prospects for the Canadian economy are looking up.