I have another question on the same subject as Ms. Glover in terms of interest rates. Obviously global factors play a role, but I also notice recent analyses that say the reductions in government spending also play a part in the softening of our domestic growth, and therefore impact the interest rates the bank recommends.
The domestic austerity measures mean that government spending—which is of course a large part of our economy, governments at all levels—has been moderating, and that has an impact on GDP. It was something the Parliamentary Budget Officer raised earlier this year. The Canadian Bankers Association also raised it in their presentation to the finance committee.
I'm wondering what your take is on that.