The implication of your question is that monetary policy is conducted very finely, almost as an engineering exercise, and I would resist that interpretation. It's more a question of the risks. So today, we have a forecast that includes the fiscal inputs and if we go six months and we're seeing the economy is behaving less well than we thought, then we would say there's a downside risk there, but don't forget this could happen. Those are just risks.
We have to make our decision every six weeks on the basis of what we have in front of us and our live judgment about how things are unfolding. We're watching a lot of other moving parts other than just government spending. In particular, exports are expected to contribute two-thirds of the growth that we're predicting and so that of course is our big preoccupation. Investment spending by firms will be the second thing as that comes in.
All those things have to be analyzed on a continuous basis and it will be in the aggregate. So there will be fiscal results in that mix. It's very hard to disentangle, if you understand. Thank you.