I call this meeting to order.
Welcome to meeting number 68 of the House of Commons Standing Committee on Finance. Pursuant to Standing Order 108(2) and the motion adopted by the committee on Wednesday, November 16, 2022, the committee is meeting to discuss 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 June 23, 2022. Members are attending in person in the room and remotely using the Zoom application.
I would like to make a few comments for the benefit of the witnesses and members. Please wait until I recognize you by name before speaking. For those participating by video conference, click on the microphone icon to activate your mike. Please mute yourself when you are not speaking.
For interpretation, for those on Zoom, you have the choice, at the bottom of your screen, of floor, English or French. For those in the room, you can use the earpiece and select the desired channel. All comments should be addressed through the chair. For members in the room, if you wish to speak, please raise your hand. For members on Zoom, please use the “raise hand” function. The clerk and I will manage the speaking order as well as we can. We appreciate your patience and understanding in this regard.
Members, just before we get to our witnesses, I will update you that we will have the Deputy Prime Minister and Minister of Finance, Chrystia Freeland, here this upcoming Monday.
I would now like to welcome our witnesses from the Bank of Canada: Tiff Macklem, Governor of the Bank of Canada, and Carolyn Rogers, senior deputy governor.
Welcome to both of you. We will hear your opening statements or remarks before we move to questions from members.