The topics we are discussing are important, and I hope that I have contributed to our understanding of some of the relevant issues. Thank you. 2  Berger, Rosen, and Udell (2001).
However, the pace of our actions will depend on our continuing assessment of the evolving prospects for pressures on capacity and inflation. In this context, there are several key factors that the Bank will be watching closely. As always, there is uncertainty about the exact size of the output gap.