Thank you, Mr. Chair.
I'm going to use all of my six minutes for questions for Ms. Zlatkin.
Ms. Zlatkin, we're doing a study right now that wants to learn from history but also to understand that Canadians are spending up to 65% of their monthly income right now on housing. I have a few questions for you.
For my first one, you mentioned the overspending that potentially occurred due to forward guidance from the Bank of Canada. My question is in regard to the transparency of the Bank of Canada's forward guidance. Do you think it's adequate? Do you think it has become less or more transparent over, let's say, the last 20 years? That's how long we're looking at in this study.