I believe the interest rate in question was addressed to the banking sector. Again, let me try to put it in context.
Since its peak in the fall of 2007, the Bank of Canada benchmark rate has declined by 425 basis points. The bank's prime rate has declined by 400 basis points. That's about 95% of the Bank of Canada decline. When the banks make loans to households and businesses, they do not source their funds at the Bank of Canada; they source their funds by either raising deposits from customers or by going into markets for either short-term or long-term money. They have the bank deposits, they have GICs, and that sort of thing. On average, the cost of funds to the banks has not declined nearly as much as the 425 basis points. On the long side, five-year money, it has been pretty sticky. It has declined by maybe 100 basis points in some cases, or 200 basis points. Those costs of funds are something that goes into the formula to determine what a customer pays. Customers who have existing prime-plus contracts, mortgages, with banks have seen their mortgages decline by 400 basis points. There has been quite a substantial decline in what customers are paying, on average, for mortgages from banks.