As in the January 2016 Outlook for Economic Activity and Prices (Outlook Report), it is estimated that the economy will continue growing at a pace above its potential through fiscal 2016.
As noted earlier, the Bank has engaged in extensive consultation with stakeholders in the insurance industry. This process began in October 2004 and was a major departure from the way the legislation was formulated in the past. The close collaboration and consultation with the industry has served to enhance the quality of the draft legislation which we are discussing today.