Thank you.
That's a great segue into my next question, because your most recent monetary policy report notes that a significant amount of slack and excess capacity in the economy will likely hold inflation down until 2022 or 2023. In addition to this, the PBO fiscal sustainability report published on November 6 says that the federal government's current fiscal policy is sustainable, with room to permanently increase spending. While federal levels of spending and debt are widely considered sustainable, there are concerns that the spending of some provinces is unsustainable.
What can the Bank of Canada do to address the fiscal sustainability of provinces, and is there a role that the federal government can play in managing provincial debt?