Q4 GDP slower than expected due to higher imports; 2017 gdp in line with bank's projection

New U.S. Govt spending, tax cuts expected to boost U.S. growth in 2018, 2019; global growth "solid and broad-based"

Will take time to fully assess impact of regulations on housing demand, prices

Wage growth has firmed but is lower than typical in an economy with no labor market slack

Implications of federal government budget will be incorporated into forecasts in april

Core inflation measures have edged up, consistent with an economy operating near capacity

Data shows pulling forward of housing demand ahead of new mortgage rules, other measures