I call this meeting to order.
Welcome to meeting number 161 of the Standing Committee on Finance. Today's meeting is taking place in a hybrid format.
I would now like to remind participants of the following points. Please wait until I recognize you by name before speaking. All comments should be addressed through the chair. Members, please raise your hand if you wish to speak, whether participating in person or via Zoom. The clerk and I will manage the speaking order as best we can.
Pursuant to Standing Order 108(2), the committee is resuming its study on the report of the Bank of Canada on monetary policy.
I'd like to welcome our witnesses from the Bank of Canada. We have Governor Tiff Macklem. We also have the senior deputy governor, Carolyn Rogers. Welcome.
Before you get into your opening remarks, I'd like to say thank you on behalf of the residents of Mississauga EastâCooksville. I'm sure I speak for all ridings. I've been knocking on doors for many years, but over the last two years, some of the concerns have been around inflation, of course, and interest rates. We saw over the last while, especially the last rate cut, the jumbo 50-point rate cut, it has made a big difference. It has helped, I could tell you, at the doors. It makes a big difference to people's lives. Thank you for that, Governor and Senior Deputy Governor.
We will go now to your opening remarks, please.