Thank you, Mr. Chair.
Welcome, Governor and Ms. Wilkins.
I will speak French and English. I'm the only member of my party here, so I'll do both languages.
I'd like to start by going back to something you said, which is, and I agree with you, that monetary policy is much less effective at such low rates as we have been experiencing, but I do remember that in the last few years we've been debating the famous tool kit and what we have as tools in the tool kit. We talked about quantitative easing. We talked about the possibility of a negative interest rate.
If you think that the right move right now is to actually stand on the sidelines and let the fiscal policy do its work, when would those tools in the tool kit be used if they are not used in the situation right now where monetary policy seems to be less efficient?