Absolutely.
I spoke about transparency and ABCP, but clearly transparency goes far beyond asset-backed commercial paper. As you know, when it comes to monetary policy, the Bank of Canada is committed to being transparent and accountable for its actions. This applies to both monetary policy and all our other initiatives. When one is trying to maintain confidence, transparency and frank, honest and open communications are of the utmost importance.
As for our forecast, which intended to maintain confidence, the governor said that it was neither optimistic nor pessimistic, but rather, it was realistic. Of course, the forecast depends on many factors. It bears witness to a great deal of uncertainty. Recent data has been weaker than what was forecast in the update of the monetary policy report. We indicated that there were some risks relating to the 3.8% rate. Nevertheless, we are of the opinion that this forecast is realistic. To give people confidence, we must explain what is behind this forecast, that is to say, a monetary and financial stimulus. We are reminding people that it takes time for these stimuli to be felt. There will be a series of negative numbers, but it is important to look to the future and consider the fact that there are many stimuli within the system.
Furthermore, with regard to confidence, I must specify that the Bank of Canada has a framework for formulating monetary policy. Our target is an inflation rate of 2%, and we will do everything in our power to reach this target. We have the ammunition to do so. We are not short of ammunition.