To your point, the Government of Canada in the spring economic update, as well as the International Monetary Fund about two weeks ago, presented scenarios. I'll quote the Governor of the Bank of Canada in his press conference yesterday with the MPR. He said that, given the incredibly high level of uncertainty that the Canadian economy and the global economy face at this point, there is considerable downside risk. I think that's a quote from the title of chart 26 in the spring economic update.
That's why scenarios were presented. In those scenarios with prolonged geopolitical uncertainty and potentially prolonged supply shocks on the oil side, that feeds into potentially lower growth in the Canadian economy and higher prices for Canadians and in turn higher interest costs and higher interest rates.
