1 Productivity in this speech refers to labour productivity. For a more detailed description, see the Productivity  backgrounder on the Bank of Canada website. 2 The average annual growth rate for potential between 1982 and 2016 was 2 1/2 per cent.
In summary, the economic analysis continues to indicate that the main scenario for price developments in the medium term is in line with price stability. Cross-checking with the monetary analysis does not alter this picture. With regard to fiscal policies, there are several important issues that warrant close attention.