In each case, idiosyncratic factors that were specific to each episode combined in a way that inhibited the economic expansion in important sectors when other fundamentals would have favored a more typical cyclical upturn. I will discuss these factors now. Idiosyncratic factors inhibiting recoveries The strength of a recovery may be related to the nature of the shocks that led the economy into recession.
Stephen S Poloz: Release of the Financial System Review Opening statement by Mr Stephen S Poloz, Governor of the Bank of Canada, at the press conference following the release of the Financial System Review, Ottawa, Ontario, 12 June 2014. *  *  *  Good morning. It is my pleasure to hold this press conference with Carolyn Wilkins.