The focus then became the timing and extent of policy interest-rate increases, but successive growth disappointments, very low inflation and uncertain labour-market developments delayed the expected commencement. The everchanging views on the timing of the so-called ‘lift-off’ have contributed to the uncertainty and volatility in emerging-market exchange rates, with every data point overly scrutinised.
Introduction Thank you for the invitation. It’s a real pleasure to be here with my colleagues in Ottawa. As economists and policymakers, we are keenly aware of the continuing challenges facing the global economy.