You're absolutely right. We had been using that word, and the reason we decided to use different words was to make clear a couple of things. One was that it wasn't meant as a single word code for “every other meeting”. In fact, given where we are in the cycle, while we know the direction of interest rates, the pace really does need to be determined by what's happening in the data and our assessment of a couple of factors that we did highlight in our press release related to how households are adjusting to interest rate increases, as well as how trade developments are evolving—not just in Canada, but in particular between the U.S. and China.
We felt that explaining the main factors that would underlie our assessment would make clear to people—which we believe is extremely important—that a decision is taken at every meeting based on our assessment of what we need to do to meet our inflation target in a way that balances all the risks out there. We don't wait until every other meeting.
It's interesting; words that you use that work well a couple of times eventually become code, and people read that one word and forget to read the rest of the things that we carefully say to impart a lot more information. In fact, what I thought was positive about the last week in the coverage was the fact that people were doing exactly that—looking at the full range of information that we were giving about the forecast.