Good Policies Speed up Economic Adjustment, Says Governor Dodge

The right set of macroeconomic policies helps countries to adjust to changing economic circumstances, David Dodge, Governor of the Bank of Canada, told a business audience today in Mexico City.

Speaking to the Consejo Coordinador Empresarial (Business Coordinating Council), Governor Dodge discussed longer-term trends and challenges facing the Canadian economy. He said that countries such as Canada have learned that improving their macroeconomic policy framework allows them to deal with change quickly and with less economic and social disruption.

The Governor noted that Mexico and Canada are undergoing similar structural and macroeconomic adjustments. "We have made important progress in strengthening our macroeconomic frameworks," said Governor Dodge. "The faster we are able to adjust, the greater wealth we can create for our citizens."