Yes, thank you for mentioning that. Just to re-emphasize that point, we did see an important move in interest rates further out the yield curve as a result of that commitment, which should provide considerable additional stimulus to the economy.
In terms of the inflation outlook, I will speak only to our outlook on inflation. We do see an easing of headline inflation, and in fact we see headline inflation becoming negative in the second and third quarters of this year. Part of that will be driven by the unwinding of commodity prices, or the year-end effect of high energy prices this time last year. But it also reflects an easing of core inflation. We see core inflation coming down towards the bottom of the band over the balance of this year. This reflects the gap opening up in the economy between the potential of the economy and the actual output.
We are taking steps to provide stimulus to bring inflation back to target over the policy horizon, and we do see it coming back to the 2% target, both core and total inflation, by the third quarter of 2011.