Consumer price inflation is 1.5 percent, close to but below our target mid-point of 2 percent, and within our target range of 1 to 3 percent. Long-term inflation expectations are well anchored at 2 percent, consistent with our inflation objective. The labour market is tight, and we think employment is near its maximum sustainable level. The unemployment rate is low at 4.2 percent. Employment has grown more slowly, in line with lower GDP and population growth. Economic growth has been slowing since 2016 and is expected to slow further over the rest of 2019. Business investment and household spending have been soft. ... (full story)