The Bank continues to monitor the situation carefully and to appraise the overall effect of these positive and negative influences on our economy. It is clear, however, that economic growth in 1998 will not be as robust as appeared likely last fall.
And some Canadian regions and industries, particularly those with heavier reliance on primary commodities and exports to Asia, will no doubt feel the impact more than others. As well, there are the economic effects of the recent ice storm in Eastern Ontario, Quebec, and the Maritimes to consider.