Information & Ethics committee  That's a question beyond the mandate of—

Information & Ethics committee  That question is best discussed by those who have the expertise to decide whether or not the competition.... To fully realize the benefits of digitalization, we need to ensure that competition is effective. We need to be asking these questions, but it's an open question as to h

Information & Ethics committee  That was a general statement, which is to say, as the economy evolves and as digitalization proceeds, it is not our responsibility, but that as new types of competition come up, using new technologies, it would be reasonable to expect that we would need to consider how to best mo

Information & Ethics committee  That would be the responsibility of the Competition Bureau and the legislation to determine. What I was saying was that as the economy evolves, we'll need to evolve all our practices as well, to understand how competition is being affected by big data, because this is something t

Information & Ethics committee  No, I don't think it does. It's a very interesting question that I'm certain we'll need to be looking at as digitalization proceeds in many different dimensions. But we have full faith and confidence in our currency.

Information & Ethics committee  Thank you very much for the question. It's a good question. What we're seeing right now in the Canadian economy is there's a lot of activity in the digital economy. While we don't have an explicit measure of the digital economy, the things that we do look at show there's very ro

Information & Ethics committee  Yes. It's a very competitive job market for data scientists and people who are conversant in AI and ML, but we're very well positioned. We produce a lot of talent ourselves, and we are attracting talent as well.

Information & Ethics committee  Our mandate is to target inflation at 2% with a range of 1% to 3%. The CPI itself is constructed by Statistics Canada, so you would need to direct your question towards them to ask whether or not the CPI is reflecting these developments. I know that they are aware of this issue.

Information & Ethics committee  What we do observe is the CPI, and that does have both online and bricks-and-mortar prices in it. We observe this. Since we know that online prices would be putting downward pressure on bricks-and-mortar prices, that would be already embedded in the CPI as that competition effect

Information & Ethics committee  Good day, Mr. Chairman and committee members, and thank you very much for the invitation to be here. As the managing director of the Canadian economic analysis department of the Bank of Canada, I'm happy to present our views and observations regarding the declining competition i