Therefore, in this context, in my remarks this evening, I will first take the opportunity to outline the broad approach we have taken in the Central Bank in our preparations. I will then go on to discuss some of the contingency planning and outline some specific areas where public authorities have had to take action.
Companies are telling us that while they plan to raise spending, the planned increases are modest, or tied to maintenance, rather than expansion. In short, the economy is not yet firing on all cylinders. In addition, Canadian companies are dealing with heightened levels of uncertainty related to US tax and trade policies. We still do not know what tax changes are coming, or when.