This period can also be seen as a realistic experience of the capacity of Member States to respect the requirements of the Monetary Union, in which the exchange rate will no longer be available in order to adjust to changing economic conditions.
Toni Gravelle: Economic progress report - a recovery unlike any other Remarks (delivered virtually) by Mr Toni Gravelle, Deputy Governor of the Bank of Canada, to the Surrey Board of Trade, Surrey, British Columbia, 9 December 2021. * * * I would like to thank Brigitte Desroches and Michael Francis for their help in preparing this speech Good afternoon.