Yes. We have outlined on a number of occasions that the high levels of household debt create a vulnerability in the Canadian economy.
One important thing to note is, with respect to the decline in oil prices, our analysis suggested that the decline in oil prices from $110 in the middle of last year to $60 at the time we did our January monetary policy report would have reduced incomes in such a way, in the absence of any policy response, that it would have actually raised the debt-to-income ratio, which is what we would think is the key for assessing that vulnerability. The policy action that the bank took in January was aimed in part at mitigating—