First, I should explain what I mean by flexibility. As most of you are surely aware, the Bank of Canada has been openly discussing the importance of promoting policies that support economic efficiency, including financial system efficiency. Efficiency refers to the allocation of scarce economic resources to the most productive uses, in a cost-effective way.
The Bank of Canada is keenly interested in productivity - for a number of reasons. Productivity gains are a key determinant of growth in potential output and, hence, of Canada's sustainable pace of non-inflationary economic expansion.
The Bank of Canada today released its 2007 schedule of eight dates for announcing decisions on its key policy interest rate, and confirmed the announcement dates for the remainder of this year.
Canada and Brazil both rely on international trade and foreign investment for economic growth, and both are major producers of commodities. Because we share these attributes, we also share a keen interest in the health of the global economy.
Canada and Chile both rely heavily on international trade and foreign investment for economic growth, and are both major producers of commodities. Because we share these attributes, we also share a keen interest in the health of the global economy.