In the Outlook for Economic Activity and Prices (hereafter the Outlook Report), released at the end of last month, we have provided an outlook that, toward fiscal 2008, our economy will grow, under stable prices, at an average pace of around 2 percent, which is somewhat above its potential growth rate.
At the same time, amid global inflationary pressures and risks to growth, we are walking on a narrow path as we strive to deliver on our price stability mandate. But rest assured, we remain fully committed to stabilising inflation at our 2% target over the medium-term.