Well, that's always a tricky question, because we take one interest rate decision at a time, but we've raised rates. Over the last year, we raised rates very rapidly. For our last two decisions, we have held the policy rate at 4.5%. We're using this pause as an opportunity to assess whether we have raised interest rates enough to get inflation all the way back to target, so we can't rule out that interest rates may need to go higher to get inflation back to target.
The other thing to note, which we discussed in our recent deliberations, is the extent to which interest rates may need to stay higher for longer, depending on how quickly inflation comes down to the target. As we started the day, there certainly was some good news: Inflation is coming down. However, as I emphasized, to get it back to the 2% target, some more things need to happen. We are going to be watching those things closely.