1/2  BIS - Central bankers' speeches  We also confirmed that our future decisions will ensure that the key ECB interest rates will be brought to levels sufficiently restrictive to achieve a timely return of inflation to our 2% medium-term target and will be kept at those levels for as long as necessary. In other words, we still have ground to cover.
*  *  *  Today we released the January Monetary Policy Report Update, which discusses current economic and financial trends in the context of Canada's inflation-control strategy. The Canadian economy is judged to have been operating at, or just above, its production capacity at the end of 2006, following weaker-than-expected growth in the second half of last year.