It is true that we currently have excess economic capacity; that's clear in terms of output and the labour market. The signs are visible.
The extent of the gap is putting downward pressure on the inflation rate. We are trying to eliminate the gap, a process that should take two years, bringing us to May 2018.
Obviously, the interest rates favour growth, as do the other policies, and specifically, fiscal policy. Those are the areas we are working on to close the gap in a period of about 18 months.