Expectations regarding future sales growth are essentially unchanged from the last survey. Investment and employment intentions have declined from the very high levels reported in the previous survey, but continue to be solid.
Now, Manitoba – right in the middle of our vast country – might seem an odd place to talk about globalization. But this province, like the rest of Canada, is very much affected by global economic forces.
Today, along with the release of the consumer price index (CPI) for May 2007, Statistics Canada converted the official time base reference period for the CPI (the period for which the value 100 is assigned to the index) from 1992 to 2002 . This conversion was previously announced on 23 January 2007.
Over the years, we at the Bank of Canada have learned that the best contribution that monetary policy can make to the economic welfare of Canadians is to keep inflation low, stable, and predictable. We try to keep the annual increase in consumer price inflation at 2 per cent, which is the middle of a 1 to 3 per cent inflation-control range.