Q2 2022 First National Corp Earnings Call Transcript
Please go ahead, Mr. Ellis.
Thank you, operator. Good morning, everyone. Welcome to our call, and thank you for participating. Before we begin, I will remind you that our remarks and answers may contain forward-looking information about future events or the company's future performance. This information is subject to risk and uncertainties and should be considered in conjunction with the risk factors detailed in our MD&A.
Joining me is Rob Inglis, Chief Financial Officer. Before Rob speak to quarterly results, I'll offer some thoughts on the market environment and our outlook. With four Bank of Canada interest rate increases since March, the economy and housing market are entering a new cycle. Perhaps not since the 1970s has Canada seen inflationary pressures such as those experienced in the past seven months. Recent quantitative tightening has made it more expensive to borrow, with the outcome that housing activity and mortgage lending has slowed.
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