I would like to answer your first question. I will turn the floor over to Mr. Macklem to answer the second one.
I feel that I was saying exactly the same thing. There are many factors that influence the Bank of Canada's monetary policy trend. If I had to choose three factors, I would say that, first of all, there is the pool of unused capacity, namely the surplus supply in Canada which remains at high levels right now. Secondly, there is the inflationary trend here in Canada. Thirdly, there is the evolution of household debt and the situation that exists in Canada in the mortgage and housing sectors.
Right now, we have a significant surplus of supply. Inflationary pressure is not significant. In addition, there has been constructive evolution in the household sector. As a result, it is clear that the considerable monetary easing that we see now in Canada will no doubt remain for a certain period of time. However, at one point, at a time that has not been identified by the Bank of Canada, it is likely that there will be a modest increase in the key policy rate.
As to your second question, I will let Mr. Macklem answer.