Thank you, Governor and senior deputy governor, for appearing before our committee this afternoon, and thank you for the service for all Canadians across this beautiful land.
I believe that the government's response has measured up to the unprecedented health and financial crises. We are starting to see the rebound leading to a better outcome in economic and employment growth, as virtually all public and private sector economists expected in the spring. I also believe that the federal government response was fully in line with the Bank of Canada's.
Having said that, I would like to ask a few questions on the Bank of Canada's balance sheet. Can you outline how the Bank of Canada plans on managing expanded balance sheets? What would you say to Canadians who are concerned with the rapid expansion of the bank's balance sheet? Is there a timeline for reducing the balance sheet to normal levels of assets and liabilities?