david dodge : demographics, labour input, and economic potential – implications for monetary policy remarks by mr david dodge, governor of the bank of canada, to the st. john ’ s board of trade, st. john ’ s, newfoundland and labrador, 13 june 2007. * * * good afternoon. i'm very happy to be here in st. john's and to have the opportunity to address the board of trade. once a year, the bank of canada holds a meeting of its board outside of ottawa. there are several reasons why we hold these meetings outside ottawa, but perhaps the most important is that it gives us the opportunity to meet with, and to listen to, business and labour leaders from various parts of the country. i certainly hope that we will have time for a good discussion following my remarks. it is very important for us to hear and to understand your perspectives and preoccupations. this information helps us in our task of gauging the country's economic prospects over the medium term and setting monetary policy so that our economy can deliver the maximum sustainable growth of employment and incomes over the long term. of course, with the passage of time, the " long term " turns into the " near term. " and in my remarks today, i want to discuss an issue that has gone from being a long - term, theoretical question to being a near - term, practical consideration for monetary policy ; that is, the impact of canada's aging population on our economic potential. the bank addressed this subject in the april edition of its monetary policy report and, today, i want to elaborate a bit on this topic. i plan to talk about how we see trends in the labour force evolving in the future, and about the implications of these trends for monetary policy, in particular, and for the economy in general. then, i'd like to take a few minutes to discuss the current state of the canadian economy and its prospects, before opening the floor to your questions and comments. labour and potential output so, let me begin by talking about demographics and trends in the labour force. i should start by explaining how this topic fits into the conduct of monetary policy. the concepts involved are reasonably straightforward, but things can get pretty complicated rather quickly. my aim is to give you a clear and accurate description of the issues without burying you in jargon or complex details. over the years, we at the bank of canada have learned that the best contribution that monetary policy can make

pakistan banking awards 2017 launching ceremony ladies and gentlemen a€ “ assalm o alaykum. after the tremendous success of the 1st banking awards in 2016, i am delighted to address this distinguished gathering of executives and academicians from the banking and finance sector at the launching ceremony of the 2nd pakistan banking awards 2017. as you are well aware, the financial sector plays a pivotal role in determining the overall economic growth and development of a country. the contribution and achievements of the institutions contributing to this sector should be recognized and acknowledged. the initiative of launching the first ever banking awards by the institute of bankers pakistan with dawn media group in collaboration with a. f. ferguson & co in 2016, is indeed a landmark in the history of banking in pakistan. i am delighted that these prestigious awards are now an annual affair and encourage new entrants to make their mark while motivating the established institutions to strive for excellence. these awards honor and promote the efforts of banks for developing new and innovative products and services, while giving them the incentive to enhance their performance for the coming year. they encourage the active participation of banks by setting the benchmark and allowing them to gauge their standing within the industry. most importantly, they inculcate a spirit of healthy competition as the awards are a great source of pride for the winning institutions. the distinguished members of the jury selected are indeed institutions in themselves and are worthy to do the needful. i am confident that like in the past, this year again complete transparency and secrecy will be maintained and all nominations would be made exclusively on merit. this is the essence of building credibility of these awards. it is a matter of satisfaction from the view point of regulator as well that the performance and contribution of banks are being recognized by an independent body in a transparent manner. on behalf of the state bank of pakistan and the organizers, i urge you all to participate and make this magnanimous event a success. i wish you all the very best.