I am pleased to be here today and to have this opportunity to talk about the Bank of Canada's outlook
for the Canadian economy and to update you on our monetary policy actions.
This has been a very difficult year for all of us in North America, but especially for you here in New
York City. The tremendous loss of human lives as a result of the 11 September terrorist attacks has
been tragic. Among those who died there were family members, friends, and colleagues. And there
were other innocent citizens of many nationalities caught in this tragedy, including Canadians. All of us
at the Bank of Canada share a deep sorrow and extend our heartfelt sympathy.