Members, I welcome you to the 15th meeting of the Standing Committee on Industry, Science and Technology. This is continuing our study, pursuant to Standing Order 108(2), of the impact of the appreciating value of the Canadian dollar on the Canadian economy.
We have two panels before us today, for an hour each. We have very special guests here for the first panel; we have witnesses from the Bank of Canada. First of all, we have Mr. Paul Jenkins, senior deputy governor. Secondly, we have Mr. John Murray, a deputy governor.
Gentlemen, welcome. You have up to ten minutes for your opening statement. Then we'll go right to questions from members for one or two rounds.
Mr. Jenkins, I believe you'll be starting.