I do hope there's some follow-up on that, and that this is looked at specifically, because many people would be surprised to know that we see this number dropping because of the decrease in labour participation, rather than because of other factors that some government members have spoken about.
On page 7 it states that “We also expect that the Federal Reserve will increase its policy rate at a faster pace over 2018 to 2019 than we projected in October.” I believe it was last year that I tried to talk to the Minister of Finance regard rising interest rates of bonds.
Right now a lot of people are looking to invest in the United States versus other places. Obviously, Canada has a very strong process for foreign bondholders, for example, or even for domestic investing in the notes of the Government of Canada.
Will this mean that we will have to pay higher interest rates down the road to attract those bonds?