A second communications benefit of fixed dates is the increased emphasis they bring to the economic situation in Canada as the primary focus of Canadian monetary policy. We believed this would lead to increased commentary on Canadian economic circumstances and their implications for monetary policy during the period leading up to a fixed announcement date.
The year-on-year decline in consumer prices thereafter is projected to remain around the April level. While the rise in prices of petroleum products is expected to peak out, the import of consumer goods, which is strongly related to low-price strategies, is not increasing as it once was.