Thank you.
One of my concerns is that inflation has remained below the target during the current crisis, as the Governor reminded us in his introduction. In his final answer to my colleague, Mr. Fraser, he even mentioned that we were more likely in a period of deflation than inflation at the moment.
Although I understand that it may be only temporary, I'm worried about some disparities in a number of economic sectors, particularly for certain assets. While inflation has remained below the targets, I'm afraid that bubbles might form in some sectors, like the stock market or real estate. Examples of this might include principal and secondary residences in the residential sector.
Do you look at and analyze these aspects of the economy? If so, what is your reading on the possible risk of bubbles in these sectors?