Last month, in my first public speech as Governor of the Bank of Canada, I talked about our contribution to good economic performance through low, stable, and predictable inflation. I also stressed the importance of frank dialogue with financial markets and the general public in helping the Bank formulate and implement monetary policy successfully, particularly at times of increased uncertainty.
Better-than-expected fiscal performance is a key factor in this regard, as government spending remains restrained even with higher revenues generated from the Revised and the Expanded Value Added Taxes.