It is much more than just economic modelling. We discussed in the past that we have a series of economic models, over twenty economic models, that we use to form our judgments about the outlook for growth in Canada. Those judgments, though, are informed by meetings with all the major sectors in our economy, from energy, through manufacturing, through the retail sectors, etc. It's the work our regional offices do on the field--a lot of work--the formal surveys that we do, and we have published our most recent one. Then it's the responsibility of the governing council, very much informed by the institution. From all this information, all this technical modelling, it is the responsibility of the senior deputy governor, myself, and the four deputy governors on the governing council to form the judgment of the projection for the global and Canadian economy. We are responsible for that projection, and it is a mixture, Mr. Wallace, of technical, of survey, face-to-face meetings, and judgment.
On October 27th, 2009. See this statement in context.