I call this meeting to order.
This is the third meeting of the Standing Committee on Finance. We have, pursuant to Standing Order 108(2), a briefing on the economic situation in Canada. We have two witnesses here this morning: the Governor of the Bank of Canada, Mr. Mark Carney; and the senior deputy governor, Mr. Paul Jenkins.
There's obviously a lot of interest in Mr. Carney's statement here, and I should point out that members have been given the Monetary Policy Report Update dated January 2009. I know committee members are very much looking forward to your opening comments, and then we will have questions from members of the committee.
So welcome to the committee, Mr. Carney. You may begin at any time.