Governor, obviously, your biggest tool in the Bank of Canada is interest rates and the adjustment of the interest-rate variable. People are commenting that from reading the Financial Times or The Wall Street Journal, and you mentioned this in your comments as well, monetary policy isn't as important a stimulus as it used to be, that the economies don't move as much when the interest rates change. We've held the rate the same. My colleagues have mentioned, and I also agree with them, that the rate by the feds may change south of the border. We have countries around the world going into negative interest rates. At this point in time, what would an interest rate cut do for the Canadian economy?
On October 24th, 2016. See this statement in context.