board, reducing - though not eliminating - the structural inequalities. challenges remain as we seek to restore the balance of demand and supply and bring inflation back to target. slowing economic growth will disproportionately affect our most vulnerable households. high inflation and high interest rates to combat inflation put an additional burden on our lowest - income households. i want to close out my opening remarks where i started. our commitment to shared prosperity in the economy starts with our commitment to equity, diversity and inclusion in our organizations. we need a diverse and inclusive workforce at the bank of canada to take better decisions. we need a work environment where people feel they can bring their whole selves to work so that they can do their best work. and to sustain the trust of canadians, we need to reflect the diversity of the canadians we serve. as part of the broader economics and finance community, we also have a role to play in fostering diversity and inclusion in this community. and there are issues to confront in our own field. economics is having its own # metoo reckoning. rather than ignore it, or evade it, i want to address it because it's important. so let me be clear. harassment of any kind can never be ignored, or excused, or brushed away. it goes against everything we stand for at the bank of canada, and everything i stand for as an economist who has spent my career working with women who do amazing research, make impressive policy and dedicate their lives to this field we share. they pursue their career, as we all do, but they do so while facing harassment that i have never had to face. i cannot speak for the entirety of economics or even of central banking, but i can speak for the bank of canada. we've built up trust - with canadians and with each other - and nothing would destroy that trust more quickly than if we stopped treating each other with respect. we have encouraged staff to report harassment when they see it. we want leaders to bring it forward when they hear about it. we can't be so self - assured as to think that harassment can't happen here. but i am confident that if it is happening, it won't be ignored. there's nothing more important to me as governor than making sure that our outstanding staff at the bank of canada have an exceptional work environment where they can all be the very best they can be. 4 / 5 bis - central bankers'speeches i want

of our 6 september interest rate announcement, the risks around the basecase projection are judged to be a little greater than at the time of the july update. the main upside risk relates to the momentum in household spending and housing prices, while the main downside risk is that the u. s. economy could slow more sharply than expected, leading to lower canadian exports. the bank judges that the risks to its inflation projection are roughly balanced. on 17 october, we left our key policy rate unchanged at 4. 25 per cent. the current level is judged, at this time, to be consistent with achieving the inflation target over the medium term. we at the bank will continue to pay close attention to the evolution of risks, as well as to economic and financial developments in the canadian and global economies.