But in fact, population gains in the West are quite well balanced between cities and towns, and smaller towns are doing better in the West than elsewhere in holding and even increasing their populations.
And the movements themselves have their own effect on demand, by changing relative prices for Canadian goods and services and by shifting demand between domestic and foreign products. The challenge for the Bank is to evaluate these movements, together with other data, and set a course for monetary policy that works to keep demand and supply in balance and inflation on target.