Policy lessons Before I conclude, let me say a few words about how monetary policy fits into the picture. There are lessons that we can take from previous price cycles. The most important of these is the value of our monetary policy framework. We can’t do much about resource price shocks. But our policy can help the economy adjust to them.
That is because in many of these 2/6  BIS central bankers' speeches  digital jobs, labour and brain power make up almost all the value of the product—there is very little automation involved. These jobs are showing up throughout Canada. Earlier this year I was in Victoria, where there are as many people working in information technology as there are in government.