Thank you.
I think you've seen an all-party consensus in favour of your one-year-plus interest rate drop. Rare.
I'd like to pursue the question of inflation. You know the old metaphor of the punch bowl, that the job of the central bank is to take the punch bowl away before the party gets going. I think in a crisis the job is to force-feed the world with this punch bowl, and then when inflation possibly rears its head, you have to quickly take it away.
I'm with you, with your view, and not with Mr. Flaherty's view. As long as we have output below potential and high unemployment, I don't believe you're going to have an inflation problem, which is what you're essentially saying. But I also think it's kind of an unprecedented and delicate operation, and quite critical in terms of timing, to take this monetary ammunition away just at the right time—not too much, not too little, not too late, not too soon. So you're kind of into uncharted territory, in a way--or at least not chartered for a long time, if ever.
My question is, how do you figure out an operation of such delicacy?