Well, we begin the analysis with, we believe that the U.S. economy is gathering momentum and so it's entirely appropriate that there'll be, in prospect, some adjustment to monetary policy. The tapering, which last year caused what they called a tapering tantrum in financial markets, is now much better understood. I think markets are clearly distinguishing between gradually reducing the rate of purchases of debt by the Fed, and eventually a change to monetary conditions, and not necessarily hinging it on a particular variable, such as an unemployment rate or anything like that. It will be about general economic conditions and their inflation objective.
In our case, our monetary policy will be developed in a completely independent manner from that, based on where our economy is relative to its potential and, therefore, the implications for our inflation target.
Just as you can see New Zealand raising interest rates quite independently, you could see the Bank of Canada either adjusting interest rates or not adjusting interest rates, regardless of what the Fed may be doing. That of course may have some implications for our bond markets and so on, but it's the sort of thing that, if carefully explained, markets will understand. I think our interest rates aren't the same as U.S. interest rates now. Ours are 1%, not zero.