Let me emphasize the importance of this: without this consensus, the integrated system that has been of such benefits to all of us would be at high risk of fracture. We now need consistent implementation going forward to preserve a level playing field across national financial sectors.
I'm pleased to be here with you today, for my final press conference as Governor of the Bank of Canada, to discuss our January Monetary Policy Report Update. The Canadian economy continues to operate above its production capacity, despite some slowing in growth and inflation in the fourth quarter of 2007.