Thank you, Mr. Chair. It's nice to see you.
Thank you for being here, Mr. Macklem and Ms. Rogers.
I quite appreciated your opening statement. You painted a clear picture of the current challenges and causes of inflation, among other things. You mentioned supply chain issues, which we've heard a lot about, as well as other domestic and international determinants.
The last time you were here, on March 3, you said that the inflation we were seeing was caused by a series of international factors mainly, and less so by excess demand domestically. Would you say that has changed?