Thank you, Mr. Chair.
Mr. Macklem and Ms. Rogers, I want to know why you chose not to raise the policy interest rate in January. In particular, I want to know how the following factors may have influenced your decision. First, the fact that the economy hadn't returned to a high enough level, according to your criteria; second, the commitment not to raise rates for a certain amount of time, or until the economy returns to its full potential; and third, the alignment of your monetary policy with the American Federal Reserve's policy.