Our policy rate is at 2.25%. If you look at the 10-year Government of Canada rate, which is the benchmark that loans to companies are priced off, it's at three and a quarter. Interest rates are not super low, but they're certainly at the short end. We think we're at the lower end of what we call “neutral”. It is providing some stimulus.
Yes, there is a role for monetary policy to play in helping with this structural adjustment. Lowering interest rates to lower the cost of investment is part of that. As we stressed in the monetary policy report, unfortunately, structural adjustment also brings new costs. Tariffs bring new costs. We are limited in how much we can use interest rates to do that. What we indicated in our report is that—and I will emphasize this—conditional on the forecast we laid out, yes, we think the current interest rate is about right to balance those two things.