The aim is to ensure spreads don’t widen dramatically and to keep the borrowing costs of governments under control to avoid an increase in financial stress at this extremely challenging time. Are you now sure we will be in recession at the end of this quarter? Yes. All of the scenarios being looked at, by the European Commission, the OECD, etc.
We believe that these meetings help us to keep members of the Senate and, through you, all Canadians, informed of the Bank's views on the economy and about the objective of monetary policy and the actions we take to achieve it.