Good morning. Thank you for joining me to discuss today s policy announcement and the Bank s
Monetary Policy Report (MPR).
Our message today is threefold. First, the current surge of COVID-19 is a serious setback. With elevated infection rates and stricter containment measures in many parts of the country, households and businesses are facing renewed strains. The economy is slowing, and high-contact activities are once again being hit hardest.
Second, with effective vaccines now rolling out, the prospects for a strong, sustained recovery through the second half of this year have improved in Canada and across most advanced economies.
And third, the Bank of Canada will continue to support Canadians and the Canadian economy through these difficult times.