Look, I think the bank--and I will take the liberty of speaking for my predecessor as well--has always been focused on its 2% inflation target. That's the objective. All these factors, whether it's the speed rate of the economy, the influence by productivity, or whether it's the exchange rate, commodity prices, financial conditions, a variety of things, they matter in the conduct of monetary policy for their impact on inflation, and monetary policy is adjusted to achieve that 2% total CPI inflation target.
On April 28th, 2009. See this statement in context.