As Chairman of the Joint Year 2000 Council, I work with other members of the Council to ensure that a high level of attention is given to the challenge within the global financial supervisory community and to serve as a point of contact with national and international private sector initiatives.
I would also like to acknowledge the important work that this committee does in addressing longer-term economic and financial issues facing Canada. Before Paul and I begin to answer your questions, allow me to take a moment to review some of the conclusions from our latest Monetary Policy Report, released last week.