Thank you, Mr. Chair.
Ms. Bowers, Mr. Dugan and Mr. Routledge, good morning. Thank you for your presentations and for being here to answer our questions.
Mr. Routledge, your office carries out resilience tests on the financial system. Obviously, with the current inflation issue, when you look at what the U.S. Federal Reserve is doing, we can expect a key policy rate hike or even a succession of hikes from the Bank of Canada in the coming days.
Have you assessed the impact of several possible successive increases in the key policy rate, and therefore interest rates, on the financial system, the housing market and other sectors of the economy?
At the same time, could you tell us what other sectors are more likely to feel the impact of a rate increase of this kind?