Thank you, Chair.
Thank you, gentlemen, for being here this morning.
This is an interesting debate, and it's one that I find really interesting for the country of Canada, because the country of Canada has so many different sectors and regions to it. That's where I get to my first question, and maybe, Mr. Ragan, I'll go to you.
When you see different parts of the country, some experiencing a boom and other parts experiencing a recession, how do you account for that as you look at a model for setting monetary policy for the country as a whole?