This decision will therefore contribute to sustaining non-inflationary economic growth in the euro area over the medium term. The main argument for raising the interest rates was the fact that since around the beginning of the summer the balance of risks to future price stability has gradually been moving towards the upside.
So, you might be wondering how Canada is really doing in the face of all these conflicting economic forces. Today I’d like to offer you a progress report. And let me say at the outset: we are making progress. Four times a year, the Bank publishes its Monetary Policy Report (MPR), containing our latest projections for the Canadian economy.