Recent economic and financial developments So how have these different factors been affecting the conduct of monetary policy in Canada? Many of the factors just discussed featured prominently in the recent Tokyo meeting of the G-7 finance ministers and central bank governors. Key topics included the slowdown in the U.S. economy and the related tightening of credit conditions in most advanced economies.
In addition to outlining a series of measures to improve the functioning of financial markets, my colleagues and I agreed that each country should continue to take fiscal and monetary policy measures appropriate to their particular economic circumstances. Canada's current economic circumstances were spelled out in the Bank's Monetary Policy Report (MPR) Update last month.