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Monetary policy actions take a relatively long time to affect the economy and inflation—anywhere between 12 to 24 months. Because of this, central banks must always look ahead and must put in place today the monetary conditions that are needed to help keep the economy on a sustainable path down the road. By 'sustainable' I mean a situation where economic growth and job creation are not at risk from rising inflation.

The Bank of Canada expects a positive economic picture going into next year, Bank of Canada Governor Gordon Thiessen told the Greater Charlottetown Area Chamber of Commerce today.

It is always a pleasure to return and speak to people in my home province. This time, we are here for a meeting of the Bank of Canada's Board of Directors. Once a year, our Board meets outside Ottawa, in a different part of the country. This year, we are delighted to be in Regina.

Canadians have good reason to be optimistic about the future, Bank of Canada Governor Gordon Thiessen told the Regina Chamber of Commerce today.

The financial sector is a crucial part of the Canadian economy and is well prepared for the year 2000.