Of course, individual payment systems are already doing this for consumers within their own network. But achieving these benefits on a broad scale would be challenging without the banking system’s participation, because of the large role banks have in holding and transferring funds.
Conclusion As I said at the beginning, potential output growth is key to a country’s standard of living. In arriving at its forecast for Canadian economic growth and inflation, the Bank analyzes where economic activity could be and where it actually is. We assess how – and when – this gap is most likely to close.