carolyn wilkins : launch of the new exhibition “ a noteworthy woman ” remarks by ms carolyn a wilkins, senior deputy governor of the bank of canada, at the launch of the new exhibition " a noteworthy woman ", bank of canada museum, ottawa, ontario, 29 november 2018. * * * thank you all for being here for the opening of a noteworthy woman, our temporary exhibition about the imagery on canada ’ s new $ 10 bank note. the process to choose the first canadian woman to be featured on a regular bank note was exciting, and it inspired many. we received more than 26, 000 submissions. this exhibition retraces our journey with canadians to collect ideas. it tells the story of the 12 amazing women who, in the end, were considered for the honour, and of viola desmond and her lasting legacy as a human rights icon in canada. the artifacts in the exhibit are evocative reminders of viola desmond ’ s life and the time in which she lived. the focus has, of course, been on that day in a movie theatre in nova scotia in 1946. a successful business woman was denied a seat downstairs, was arrested and jailed, then ultimately convicted and fined for doing what was right in a system that was wrong. yet, that day in the theatre was not the first time viola desmond had experienced systemic racism. she had always dreamed of opening her own beauty salon, but the 1930s was not a time when a woman — and especially a black woman — could easily succeed. nova scotia beauty schools would not accept her, so viola trained in montreal and the united states. she then returned to halifax to open her own studio in 1937, during the depths of the great depression. viola desmond had been an inspiration for years before she bought that fateful movie ticket. our exhibition includes mementos from viola desmond ’ s business and seats from the movie theatre where her public battle began. more poignant still is viola desmond ’ s free pardon, granted in 2010 by the government of nova scotia, which recognized that she was innocent of the conviction that had remained on her record for 63 years. she never got to see justice served. it is a pleasure and honour to have wanda robson here today to share this moment dedicated to her sister. the exhibition also highlights other design features of the vertical $ 10 note, which centre on the theme of human rights and social justice. you will find an image of an eagle feather, an excerpt from the charter of rights and freedoms and an image of

chart 2a : typical household energy bill smaller of ofgem energy price cap and energy price guarantee this next chart illustrates what is going on. the blue line on the left - hand chart shows the evolution of the ‘ typical ’ household energy bill. nobody actually pays the typical energy price bill, of course, but it has become an industry standard as a measure of what households pay on average. it is generally determined by ofgem ’ s cap on the price that energy suppliers can charge consumers. in turn, ofgem bases its calculation of the cap on the wholesale prices energy suppliers are expected to pay in european energy markets. since october, the cap has itself been capped by the government ’ s energy price guarantee ( shown in orange ). chart 2b : typical household energy bill smaller of ofgem energy price cap and energy price guarantee you can see that the typical energy price bill went up in a few big strides as russia ’ s assault on ukraine drove up wholesale energy prices. in october, as the energy price guarantee was put in place to moderate what would have been an even higher increase in ofgem ’ s price cap, the typical energy price bill was nearly twice as high as a year earlier. as shown in the right - hand chart, annual inflation in the typical household bill was nearly 100 %. even if electricity and gas only accounted for about 3½ per cent of the consumer price index, this increase had a big impact on the overall inflation rate : a 100 % price increase in 3½ per cent of the consumption basket adds 3½ percentage points to inflation. chart 2c : typical household energy bill smaller of ofgem energy price cap and energy price guarantee looking ahead, with the announced adjustment to the energy price guarantee, the typical energy price bill is set to rise further to £3, 000 in april. but to calculate the annual inflation rate at that point, we have to compare with the april 2022 bill, which had already risen significantly. because of this base effect, even if the bill itself goes up to a higher level, it goes up by less over a year than it did in october. the annual inflation rate therefore falls sharply from 96 % to 52 %. the contribution to consumer price inflation from the energy bill will nearly halve. chart 2d : typical household energy bill smaller of ofgem energy price cap and energy price guarantee looking further ahead, say to april 2024, the outlook is more uncertain. wholesale energy prices have come down markedly over