So the Bank looks at a wide variety of indicators to assess how much pressure there is on capacity. We monitor Statistics Canada reports on how closely factories are operating relative to their capacity. We survey businesses across the country to see where firms are feeling production constraints.
We look at data from the labour market, as well as figures on input costs and wages. We look at real estate market indicators. And, of course, we pay careful attention to financial market developments. We also measure inflation and inflation expectations.