I now call the meeting to order.
Welcome to meeting number seven of the House of Commons Standing Committee on Finance.
Pursuant to the motion adopted by the committee on Thursday, November 19, the committee is meeting on its study of the report of the Bank of Canada on monetary policy. Today's meeting is taking place in a hybrid format pursuant to the House order of September 23. The proceedings will be made available via the House of Commons' website.
Just so that you are aware, the webcast will show the person speaking, rather than the entire committee.
To ensure an orderly meeting, I would like to outline a few of the rules. Seeing that we have witnesses, I will go through them today. Members and witnesses may speak in the official language of their choice. Interpretation services are available for this meeting. You have a choice at the bottom of your screen of either the floor, English or French audio. For members participating in person, proceed as you usually would when the whole committee is meeting in person in this committee room. There are four of us here. Before speaking, please wait until I recognize you by name. If you're on the video conference, please click on the microphone icon to unmute yourself. As a reminder, all comments by members and witnesses should be addressed through the chair. When you're not speaking, your microphone should be on “mute”.
Committee members have sent me the order of questioners, so we will go by that.
I'd now like to welcome our witnesses. We're pleased to have with us today the Governor of the Bank of Canada, Tiff Macklem.
Let me say, Mr. Macklem, congratulations on your appointment as Governor of the Bank of Canada and welcome to this committee. I know you've been here before, and I guess before most of our times here, but welcome again.
With the governor is the senior deputy governor of the Bank of Canada, Carolyn Wilkins.
Carolyn, you've been at this committee many times before the members who sit on this committee. I know that before too long you're going on to other ventures. We wish you well in those ventures. I sincerely want to thank you for your work with the Bank of Canada over the last number of years and for your appearances at the committee. I don't think any member can deny that your information was always forthright and valuable. Thank you, then, for your appearances before this committee and for your work with the Bank of Canada. All the best in new ventures.
I'll turn it over to you, Mr. Macklem. The floor is yours. You have a number of remarks, and then we'll go to questions.
First on our questioners list, I believe, is Ms. Jansen, followed by Mr. Fraser.