plan that will focus our efforts and guide our actions. to help restore the prosperity of the indigenous economy, we want to become trusted partners. and we need to work together to overcome the long - standing obstacles faced by indigenous peoples and the discriminatory practices that contributed to them. the potential prosperity of the indigenous economy before contact with colonizers, indigenous peoples had thriving economies, communities and governance structures. manny jules is chief commissioner of the first nations tax commission and a driving force behind many of the financial innovations i ’ ll be talking about today. at the symposium on indigenous economies that we hosted last november, he described the state of the indigenous economy before settlement. he said, and i quote : we paid taxes, had property rights, built, and sustained public and economic infrastructure, had money, and created standards that supported vast and successful trading networks. we used our jurisdiction to create a public and community sector that supported many innovations in agriculture, land and resource management, products, transportation, science, math, and of course art. 2 tulo centre of indigenous economics, “ 2021 symposium on indigenous economies ” ( november 29, 2021 ). the forces of colonization and assimilation brutally suppressed this vitality, but the indigenous spirit proves resilient. we all share the responsibility to help restore this prosperity by advancing the objectives of economic reconciliation as recommended by the truth and reconciliation commission. 3 indigenous peoples deserve equitable access to education, employment and economic opportunity. the resulting benefits would be substantial for indigenous communities because their standards of living would dramatically improve. all of canada would also gain from an indigenous economy that is more empowered to realize its full potential. several recent trends speak to the enormous potential of the indigenous economy. for example, the indigenous population in canada is young and growing fast. statistics canada projects that the indigenous population will grow by more than 50 % by 2041, which is almost double the rate of the non - indigenous population. 4 the indigenous population in canada is also currently much younger — with just less than half being under the age of 25 compared with less than one - third of the non - indigenous population. 5 truth and reconciliation commission of canada, “ call to action # 92, ” truth and reconciliation commission of canada : calls to action ( 2015 ). 4 statistics canada, “ projections of the indigenous populations and households in canada, 2016 to 2041, ” ( october 2021 ). statistics canada, “ aboriginal peoples highlight tables, 2016 census. ” statistics canada catalogue no. 98 -

mark carney : summary of the latest monetary policy report opening statement by mr mark carney, governor of the bank of canada, at a press conference following the release of the monetary policy report, ottawa, 23 april 2009. * * * good morning. paul and i are pleased to be here with you today to discuss the april monetary policy report, which we published this morning. • these are difficult economic times with the canadian economy being buffeted by an intense and synchronized global recession. in recent months, that global recession has been exacerbated by delays in implementing measures to restore financial stability around the world. • g - 20 policy - makers are now responding to the global crisis with renewed commitment to concrete initiatives and comprehensive plans. our base - case projection is that these policies will be implemented in an effective and timely manner, and their impact will reach full force next year. • as a result of the current global economic and financial situation, the bank now projects that the canadian recession will be deeper, that our return to growth will be delayed by one quarter to the end of 2009, and that our recovery will be somewhat more gradual. • the broad outlines of the canadian outlook are the same, but its profile has shifted. • canada's real gdp is projected to decline by 3. 0 per cent this year, and growth is expected to resume in the autumn and accelerate to 2. 5 per cent in 2010, and 4. 7 per cent in 2011. • our outlook for inflation is broadly consistent with that in january. total inflation will temporarily fall below zero in 2009, but core and total cpi inflation are expected to return to the bank's 2 per cent inflation target in the third quarter of 2011. • in that context, on tuesday, the bank lowered the policy interest rate by 1 / 4 of a percentage point to 1 / 4 per cent, which is judged to be the effective lower bound of the policy rate. conditional on the outlook for inflation, the bank has committed to holding this rate at 1 / 4 per cent until the end of june 2010. • since december 2007, we have cut interest rates by a total of 425 basis points to their historic lows and lowest possible levels. it is the bank's judgment that this cumulative easing, together with the conditional commitment to keep rates low for a considerable period, is the appropriate policy stance to move the economy back to full production capacity and to achieve the 2 percent inflation target. • however, these are uncertain times and