Bank of Canada governor Tiff Macklem delivers a virtual economic progress report before the CFA Society Toronto. He is joined by the group's CEO, Sue Lemon. Macklem discusses the central bank’s decision to raise its key interest rate from 0.25 to 0.5%. This is the bank’s first interest rate increase since 2018. Following his remarks, the governor holds a news conference from Ottawa and takes questions on economic sanctions against Russia, the bank’s steps to address inflation, and on Canada’s supply chain.