Speeches and appearances

Indeed, a strong research environment has long been a hallmark of the Bank. We also want to encourage research relevant to our business, especially with respect to monetary policy and financial system stability, at universities all across Canada.

What I propose to do on this panel today is to talk about stabilization policy and policy co-operation from the viewpoint of an industrial country that has a floating exchange rate and both an explicit inflation target for monetary policy and a clear objective for fiscal policy.

Today, we published our Update to the April Monetary Policy Report, in which we discuss economic and financial trends in the context of Canada's inflation-control strategy.

But first, I would like to address an important subject; that is, how to promote the efficient operation of Canada's financial markets. Rather than approaching this topic in a detailed, technical way, I want to speak about two qualities that are essential to their efficient operation: trust and transparency.

Queen's motto is Sapientia et Doctrina Stabilitas, which we generally translate as "Wisdom and knowledge shall be the strength of thy times." This motto is especially pertinent to you as engineers graduating today.