Thank you for being here again at the finance committee, Governor and Senior Deputy Governor.
I'd like to start along the same lines, Governor, as what you were discussing with my colleague about government spending plans and their impact on inflation.
The government presented the fall economic statement. It's the mini budget, if you will, of the government presented every fall. You said the FES is “not adding new or additional inflationary pressures over the next couple of years, which is the critical period over which we will be looking to reduce inflation and get it back to the target”.
Can you expand on that? I want to make sure the folks at home are very clear. Is the latest fall economic statement, which is the latest spending plan of the government, adding undue inflationary pressures to the Canadian economy?