We have been working since the global recession almost a decade ago to bring the Canadian economy home. What I want to do today is give you a sense of how far the economy has come and how much further it has to go, and talk about some signs to watch for along the way.
Over the 2 months leading up to the introduction of the Reserve Bank's package of policy measures in November, Australian interest rates declined relative to those abroad and the Australian dollar depreciated by 5 per cent in trade-weighted terms (Graph 4).