Thank you, Chair.
I was just thinking, when I listened to Mr. McKay's characterization of the Caisse de dépôt as an 800-pound gorilla, that perhaps the citizens of Quebec would have been better served if they were operating under national securities regulators. Maybe then it would have been only a chimpanzee.
We're really not faced with soaring inflation or even imminent deflation. In your discussions with Mr. Mulcair I heard the figure 2% come up. I'd like to know how you would actually decide what rate would be your target rate. What factors would go into that, and why would that be a healthy range? What are your predetermining factors for that?