Furthermore, we must recognize that the Government does not have the fiscal capacity to continue entitlements and welfare programmes at this level. The Government’s embrace fiscal responsibility will act as a self-limiting check on the wage-price spiral. (ii)  Commodity price shocks are unlikely to persist  39.
Mark Carney: Summary of the latest Monetary Policy Report Opening statement by Mr Mark Carney, Governor of the Bank of Canada, at a press conference following the release of the Monetary Policy Report, Ottawa, 23 April 2009. *  *  *  Good morning.