We have made progress in thinking about these and other vulnerabilities and understanding the risks they pose to the economy. I’ve also tried to give you a sense of the multiple issues we are wrestling with in managing the macroeconomic risks facing the Canadian economy.
Ladies and gentlemen, the Vice-President and I are here today to report on the outcome of today’s meetings of the Governing Council and of the General Council of the European Central Bank. Let me start with the Governing Council’s discussion on recent economic developments and the decisions that the Governing Council has taken today in the field of monetary policy.