Thank you, Mr. Chair.
Thank you, Governor, for meeting with us. I believe it's the first time I've had a chance to ask you questions.
I want to stay with quantitative easing and monetary policy.
The question that Mr. Blaikie put to you, which was on whether there was a link between quantitative easing and mortgage loans, to me, is perhaps the wrong question to ask. The question is, what is the connection between quantitative easing and inflation? To what extent did the Bank of Canada underwrite the government borrowing that happened during the pandemic period—in other words, the bond buying—and how much liquidity was actually injected into our economy as a result?