*  *  *  Today, we published our Update to the April Monetary Policy Report, in which we discuss economic and financial trends in the context of Canada’s inflation-control strategy. Canada’s economic recovery, which began in the last quarter of 2001, gathered momentum in the first half of 2002.
The formula should reflect global economic weights and the contributions to the Bank’s development mission. Rewarding support to this mission is essential to building up adequate incentives for future contributions. Any discussion of future resource needs to be preceded by a thorough conversation on the future positioning of the Bretton Woods institutions.