We have presented our forecast. Yes, there are risks on both sides of the equation. Now that inflation has returned to 2%, the possibility of overshooting our forecast is as much a concern to us as it is undershooting it.
Last week, I took part in meetings of the IMF, the International Monetary Fund, in Washington. I think the advice given to central banks at those meetings was good. Most of the major central banks are in the process of normalizing their interest rates, and the IMF advises us to do so cautiously, that is, not too fast, not too slow, just at the right speed. The economic situation varies slightly from country to country.
You saw that we started lowering our interest rates before the United States. That reflects the slightly different situations in our two countries. We can make our decisions here in Canada based on our needs. That's why we have a flexible exchange rate.