Thank you for inviting me to speak with you today. The Bank of Canada’s mandate is to promote Canada’s economic and financial welfare. We fulfill this mandate in a number of ways, but we are probably best known for conducting monetary policy. We set our key policy interest rate with a goal of keeping inflation low, stable and predictable because that is the best way to promote sustained growth in employment and living standards. Eight times a year, my colleagues and I on the Bank’s Governing Council announce the setting for our policy interest rate. As you will likely have heard, we announced yesterday that we left ... (full story)