Introduction
Good afternoon. It is a pleasure to once again have this opportunity to speak at CABE's annual late-summer conference, although the circumstances have changed radically since I last spoke a few years ago. The COVID-19 pandemic has disrupted all our lives and imposed much hardship on many.
When I was last with you, we were on the top floor of a Kingston hotel overlooking Lake Ontario. I felt tested to hold your attention given the lovely view. Today, I'm similarly challenged, but by a virtual platform, made necessary by the serious health threat posed by the virus.
The topic I'll be addressing is inflation. It is a subject that central bankers never tire of talking about, since low and stable inflation is the core objective of the Bank of Canada's monetary policy mandate.
I would like to offer a slightly different perspective to engage your interest-namely, the difference between how people perceive inflation versus the actual measured rate.