Finance committee  Given the narrative, of course, you're right. There's every good reason for people to be concerned and our job is to do everything we can so that they needn't be. I'm going to ask Ms. Wilkins to walk you through our economic scenarios in just a moment. Let me just say that the

Finance committee  That's the question. We would normally measure that in terms of ratio to GDP. For the household sector, I would have to get the exact facts to you, but off the top of my head it's approximately 100% of GDP. It's like 170% of disposable income. That's usually the metric we refer t

Finance committee  That's correct.

Finance committee  I'm not sure, out of all these comments, which ones I should treat as questions, Mr. Chairman, but I will go to the last question, I guess. I can say that we have not come to the rescue of any provinces. We have been buying short-term securities from the market directly, as the

Finance committee  First of all, we refer often to this notion of strains. The strains in the marketplace that we refer to are the actual functioning of the market. That pertains to the actual liquidity of the market: Can you sell a bond readily when you want the cash, or do you find there is quite

Finance committee  Yes.

Finance committee  Good afternoon, Mr. Chairman and committee members. Senior Deputy Governor Wilkins and I welcome this opportunity to appear before you to discuss the bank's policy actions in response to the coronavirus pandemic, as well as our monetary policy report, which we published just ye

Finance committee  Often these things are discussed in a frame of risk. You think of automation or AI displacing jobs that are susceptible to that, jobs that are repetitive. It goes from manufacturing-type jobs to service-type jobs, such as in the financial sector. I was on the phone with an AI yes

Finance committee  That's right. It's 2020 for Line 3, but you have a marginal increase in rail capacity as new cars become available.

Finance committee  The reason why the housing market recovers in that is that, as I described in my opening statement, when, in effect, B-20 is reducing the potential demand for housing on the margin, people are reacting in different ways: buying smaller houses or waiting a little longer to do it.

Finance committee  That's correct. We don't know the parameters of it yet. One of the things that is implied there is that it's designed to favour more housing building, so it's a fairly significant piece of analysis to work out just how big that might be. We have not included those things yet.

Finance committee  Yes.

Finance committee  Thank you. When I became Governor, I committed to visiting all provinces and territories in Canada. I can now say that I've done so. It has been a great experience to talk to real people making real business decisions on a daily basis, in totally different settings. I think t

Finance committee  At this stage, I think that we just have a question mark around the timing of that, so if it were to.... Let's suppose that it was approved in the near term. There would be some additional investment spending this year, but the real impact on the economy would be after it's compl

Finance committee  The data you give us are correct. Despite a lot of concern about Canada's competitiveness and its ability to attract investment, in 2018 there was about a 5% increase in inbound FDI, which is quite healthy. It's true that this increase was not in the energy sector, but of course,