Well, in part 2% is the result of history. We started from very high inflation, and when we adopted the inflation target, inflation in Canada had been 4% and rising and we felt that it was too high. That's not price stability, and the 2% inflation target was jointly agreed to by the government and the Bank of Canada.
In difficult times, when the purpose is to get inflation down first, then of course in the early 1990s, following the recession, the recovery was slow. So in the end, when it came time to renew, although at first we had said that we'd get inflation down to 2% and then define price stability later on and decide whether we keep it or go lower, systematically we've renewed the target at 2% on our last renewal. And the Bank of Canada has done a lot of work on what would be the desirable rate of inflation. There are a number of arguments saying that it should be lower. There are not many arguments that would justify raising it. We've summarized some of that research in the past, but the last time we agreed with the government on maintaining the 2% figure we did point out that we would be very thoroughly examining what our next target should be, and we will be coming up with the results of our research before 2011.
It's premature at this point to talk about this research, but there is vibrant discussion going on. We have set up a website called inflationtargeting.ca, where some of the research papers are presented, and there is a wiki also where we get feedback from people.