When Paul and I appeared before your committee last October, we noted then that the outlook for growth in the Canadian economy had been revised down slightly from earlier expectations. In our latest Monetary Policy Report, which we released last Thursday, we noted that Canada's economic growth did indeed slow, but recently, inflation has been higher than expected.
BIS central bankers’ speeches  1  The main reason why the poor are excluded from access to formal financial services is because serving this segment of the population entails financial institutions incurring much higher transactions costs, relative to the value of the services provided, than is the case for more wealthy customers.