The second issue I want to raise is with respect to the statement made by Governor Carney that “The strength of net exports will be sensitive to currency movements, the expected recovery in productivity growth, and the prospects for external demand.”
You have some faith in terms of continuing export growth, but you obviously do have these three cautions in here. You've talked about the currency with respect to China, but I'm just wondering if there might be some other countries who choose to devalue their currency to address their own fiscal situation. Are you at all concerned about that and its impact then on our exports?