. if the baseline of the staff projections materialises, the economy should continue to rebound thanks to the declining impact of the pandemic and the prospect of solid domestic demand and strong labour markets. fiscal measures, including at the european union level, would also help to shield the economy. based on our updated assessment of the inflation outlook and taking into account the uncertain environment, we revised our schedule for net asset purchases over the coming months and confirmed all our other policy measures. we are very attentive to the prevailing uncertainties. the calibration of our policies will remain data - dependent and reflect our evolving assessment of the outlook. we stand ready to adjust all of our instruments to ensure that inflation stabilises at our two per cent target over the medium term. we are now ready to take your questions. 3 / 3 bis central bankers'speeches

from our counterparts, but we also have the chance to ask questions about their policies and prospects. and between these meetings, senior officials from finance ministries and central banks talk frequently to each other. this kind of information sharing can also be useful in areas other than macroeconomic policy. i mentioned before that the oecd policy consensus includes the idea that countries should strive for economic flexibility through their structural policies. in particular, that means the creation and maintenance of effective and efficient labour and capital markets. again, the sharing of information about experiences and best practices can be invaluable in helping authorities design policies and programs that are appropriate to their own economies. information sharing can also help to reduce uncertainty and to promote economic security by demonstrating the most effective ways to strengthen the rule of law and reduce the risk of abuses. and information sharing is an important part of the effort to combat money laundering and terrorist financing - an effort led by the financial action task force here in paris. where coordination can be helpful so is there any scope for outright policy coordination in a global economy? as i said at the beginning, i would argue that, when it comes to international trade and finance, actual coordination is not only desirable, it is probably necessary to facilitate the expansion of commerce and to promote well - functioning global financial markets. let me explain, starting with international trade. a moment ago, i said that trade liberalization is a crucial part of an appropriate economic policy framework. but in order to have freer trade worldwide, countries need to come together to draw up and enforce a set of rules governing the exchange of goods and services. in this regard, canada has been a consistent supporter of the world trade organization ( wto ) and its earlier incarnations. unfortunately, in recent years, there has been insufficient international support for strengthening the global trade order, and talks on difficult sectors, such as agriculture, have floundered. collectively, developed countries still have a considerable way to go in terms of reducing subsidies and liberalizing trade for a number of goods, including agricultural products. in my view, we have a responsibility to do this in order to promote growth in the most impoverished nations. that is why canada has been pushing for an early resumption of the doha round. and there are other sectors, such as financial services, where major effort is required. this effort must be made so that the global economy can benefit. it won ’ t be easy ; but, in the long run, it will be worth it