Thank you very much.
Back in the fall of 2021, there was some fanfare around a new mandate for the Bank of Canada. It seems to me that the bank still has a pretty hard-nosed focus on price stability or inflation control.
We've heard you say on many occasions that the unemployment rate is low and that expectations around wage growth are a factor in your deliberations around where to keep the general rate. Has the new mandate from the fall of 2021 changed any of the assumptions the bank works with? Has it changed its approach? Is its analysis substantially different in any way, given the new agreement signed in the fall of 2021? If so, in what ways would you say the new mandate has changed the way you've approached the scenario we have found ourselves in over the last two years, versus if you had used the mandate that was signed off on in or around 2016?