Yes.
As the governor indicated, we need to be forward-looking. Monetary policy works with lag, so any change of interest rates today, for example, would have an impact on the economy and on inflation, a full impact, only out 18 to 24 months. So we need to look ahead.
What we do is look at all of the trends in the Canadian economy to get a sense of what we think the underlying pressures are on inflation. That's why we look at a core measure, because you wouldn't want to respond to a volatile movement if it was temporary. The objective certainly is always to bring inflation back to our 2% target as we look out over what I would call that policy planning horizon.