This good inflation performance bodes well for the continued expansion of the Canadian economy. But what remains to be seen is whether this expansion will bring with it strong productivity gains for Canada similar to those witnessed in the United States. One thing is clear. The job of the Bank of Canada must be to keep inflation in Canada low and stable.
It is most fitting that in the 40th Anniversary year of the central Bank of Mauritius and the 60th Anniversary year of Independence in India, we have such as distinguished visitor who will be assisting us in the future in our regional development work at the Bank of Mauritius and for banking education for small and island states.