As I noted earlier, it was only in February 1995 that the Government of Canada was perceived to have established an objective for fiscal policy that was specific enough to provide a basis for achieving a reduction in deficits to zero and setting the economy on a path that would reduce the debt-to-GDP ratio.
Committee members agreed that monetary conditions needed to continue to tighten further, so as to be confident there is sufficient restraint on spending to bring inflation back within its 1-3 percent per annum target range. The Committee remains resolute in achieving the Monetary Policy Remit. Meitaki ma’ata Tēnā koutou, tēnā koutou, tēnā koutou katoa.