The Bank of Canada’s monetary policy accomplishes a simple, yet vital, task: it manages the level of demand over the business cycle in order to meet our inflation target. In turn, an environment of low, stable and predictable inflation allows productivity-enhancing investments in physical and human capital.
This is the perfect complement to the structural policies that governments at all levels in Canada are working to strengthen. Conclusion Time to wrap up. If we want to continue to prosper, we have to improve our productivity. Clearly, blaming the machines is not the way forward.