Not only are we expected to preserve price and financial stability, but also to contribute to the preservation of jobs and the predictability of the business environment, in coordination with other economic policy makers. However, I am certain that challenges are not an unknown for any of us. They are an everyday environment in which we make decisions.
Immigrants have contributed positively to labour supply, helping to fill skills shortages. The share of workers with tertiary level education has increased. These are encouraging developments, resulting from the implementation of structural reforms in product and labour markets, increased immigration and wage moderation. Nevertheless, progress has been quite uneven across countries and significant challenges remain.