At this time we would put a very low risk against that eventuality.
We have a range of estimates for the level of capacity in the economy. We take a mid-range of that range of estimates, but there's considerable uncertainty about how much there is.
The situation is quite in contrast to that of the U.S., which is, I would say, a good year ahead of us in this process of converging. Of course economists watch all of those signals, as you mentioned. As you approach full capacity, you may begin to see wage settlements beginning to pick up. It's one of the early signs that inflation is getting ready to recover. It's at that time the risk management approach to monetary policy sounds that warning and you begin to deal with that.
Bear in mind it's not as exact a science as we tend to convey. We think the level of potential will be growing later this year and next year because of the investment happening in the rest of the economy. That moves that eventual limit on the economy farther out.