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What is the role of central banks in financial stability? How has this role changed in recent years? Bank researchers share their insights on this matter and provide an overview of recent changes the Bank has made to its Emergency Lending Assistance Policy. Researchers also provide a history of four major commodity supercycles, dating back to the early 1900s. Finally, there is discussion about structural reforms in emerging-market economies, such as China, and how these reforms influence potential growth.

Growth in the Canadian economy is expected to increase from 1.1 per cent this year to about 2.0 per cent in 2017 and 2018.

The autumn Business Outlook Survey provides some signs of improving business prospects, as resource-related activity appears to be gradually bottoming out and foreign demand is providing steady support to firms’ sales expectations.