Thank you.
One of the questions I wanted to touch on is that there was a lot of discussion around the time that the mandate was being renewed on the question of full employment being one of the objectives within the mandate of the Bank of Canada. Of course, a decision was taken not to include that in the mandate of the Bank.
I wondered if you could take some time to speak to that decision and the big question mark that's out there for over 6% of Canadians for whom, despite a lot of talk in the economy of employers who need employees, there is nevertheless a stubbornly high unemployment rate.
Why was there a decision not to include that in the Bank of Canada's mandate, even though it's clearly something that it seems the Bank will be paying close attention to? What do you think the path out of that stubbornly high unemployment rate is, and how can monetary policy help in trying to bring that number down?
I thought of this in your reply to my last question. You said that the best way to fight inequality in Canada is to get everyone back to work, but of course there's the decision to say that that's not part of the mandate of the Bank of Canada. I'm hoping you can help us understand that decision a little better.