Matters related to monetary policy - such as the official discount rate, guidelines and tools for money market operations, and the Bank's assessment of economic and financial developments - are discussed in MPMs. By statute, the procedures for MPMs differ from those of regular Policy Board meetings.
Indeed, in recent months we have experienced the widest trade deficit in history with unemployment still close to record lows. Certainly, the distribution of jobs by industry is influenced by international trade, but it is also affected by domestic trade. The relative balance of supply and demand in a competitive market economy determines the mix of employment.