Finally, in 2003, bold labour market reforms were introduced, which modernised the labour market structure and lowered the high employment threshold of economic growth. They were accompanied by fiscal consolidation and adjustments in the social security systems, in particular the pension system.
David Dodge: Monetary policy report update Opening statement by Mr David Dodge, Governor of the Bank of Canada, at a press conference following the release of the Monetary Policy Report Update, Ottawa, 12 July 2007.