There will be some offsets, such as the stronger U.S. economy and a weaker Canadian dollar, but there are risks with regard to the timing and magnitude of these compensating effects. On March 4 we will come to our next interest rate decision. That decision will be based on a careful examination of how the economy, and the risks, are evolving.
This is exactly our responsibility as policymakers. Based on these thoughts, we titled this symposium: "For a Better Future: Demographic Changes and Macroeconomic Challenges." The symposium focuses on demographic changes over three sessions: first, the impacts on the macro economy, second, the impacts on fiscal conditions and the social security system, and finally, the impacts on monetary policy and the financial system.