Finance committee  I could go on for a long time, but I know I don't have a lot of time, so I'm going to keep this brief. The big burst of inflation we saw in 2022—up to 8%—started largely as a result of global factors. The global demand for goods was very strong. People couldn't get the services b

Finance committee  Well, the one thing I never do is give political advice, so I'm not going to break that rule now.

Finance committee  I'm sorry. I don't give political advice.

Finance committee  You're right. Overnight repos are a standard part of our operating framework. We haven't used them for some time. Really, the pandemic interrupted that because there were a number of extraordinary tools used. However, now things are getting more back to normal, so you're seeing u

Finance committee  Well, climate policy and taxonomy are in the realm of elected officials. As a general comment, I think disclosure and agreeing upon rules of the road in taxonomy—so people can agree on what this is relative to that—are useful bits of infrastructure that would allow people to ma

Finance committee  I'll make two points. Undoubtedly, population growth is significantly adding to demand. It's also significantly adding to supply. I'll start with supply. You can see this very clearly in the labour market with a large number of newcomers. That has helped ease the pressures in

Finance committee  We have. The senior advisory committee, for those who don't happen to know what that is, is a committee of the—

Finance committee  Yes, we have been discussing these issues. From time to time, we invite CMHC to participate in the discussions, given that they are the principal Crown corporation responsible in the housing domain. Yes, those discussions are happening. I'm not going to speak for the government

Finance committee  Okay. Your question is complicated, but I'll do my best to answer it in French.

Finance committee  No. We have two official languages in this country, so I should respond in French. In January, for two days, I believe, we carried out overnight reverse repo operations. The amount wasn't exactly the same each time, but it was around $5 billion. These are daylight loans, so afte

Finance committee  If you just want a number, if you take CPI excluding shelter, it's going up, at 2.4%. You can see that shelter is making a big contribution. Currently, inflation is 3.4%. It's making sizable contribution. In terms of our policy, though, I would emphasize a couple of things. Fir

Finance committee  I'm always hesitant to react to one number, because in economies you have to look at a lot of numbers to put it all together. In our monetary policy report, which we published before that number came out, we expected Q4 GDP to be roughly zero growth. That number by itself would

Finance committee  I can't really add much to what I've already said. We've built the government's spending plans into our forecast. If governments of all levels—federal, provincial, municipal—add a lot more spending relative to what we've built in, then yes, that is going to make it harder to get

Finance committee  We're not housing policy experts. I can't really add much more to what I said before. Policies—and you mentioned a couple—on things that improve supply will be particularly helpful in the current situation. Yes, I think to some extent those would provide for speeding up of permit

Finance committee  So far, we've avoided a recession. I will say that growth has been weak, but we needed that weak growth to let supply catch up with demand. We're very aware that it doesn't feel very good. As one of the previous members indicated, on a per capita basis, consumption is actually d