So what I propose to do today is talk about some of the economic policies that Canada has put in place in recent years and, in doing so, touch on some of the challenges we still face. Canada's monetary policy framework Let me start with the policy area for which we at the Bank of Canada are responsible - monetary policy.
The preamble to the Bank of Canada Act calls on us to conduct monetary policy "in the best interests of the economic life of the nation," and "to promote the economic and financial welfare of Canada." We know that too much demand can lead to inflationary pressures, and that too little demand means that resources are being wasted.