Thank you, Mr. Chair.
Thank you, Mr. Macklem and Ms. Rogers, for being here today and for answering questions.
You mentioned that in the monetary policy reports, the outlook for consumer price index inflation through to the end of 2024 has been revised up and that about half of this revision reflects the assumption of higher oil prices. I wonder if you can explain to this committee what type of an impact you would see happening if we reduced our reliance on fossil fuels and the impact that would have on inflation.