Once a year, we reassess our assessment of the neutral interest rate. In our next monetary policy report in April, we will be reassessing what our best estimate of the neutral rate is. I would underline that, whatever estimate we land on, there's quite a bit of uncertainty around exactly what the neutral interest rate is. It's not something we can observe directly.
The inflation-targeting framework is designed to deal with those kinds of uncertainties. If our estimate of the neutral rate was too low, that means that our inflation forecast would start to come in off what we think, and then we'd have to adjust to that.
Things like the neutral interest rate are not like a pandemic that just hits you. This thing probably evolves pretty gradually, so we'll start to be able to see some accumulated errors, and we can adjust. That is one of the benefits of the inflation-targeting framework. It addresses the fact that there are these uncertainties that we have to manage.