We do have an agreement in place with the government, and it is tied explicitly to our inflation target of 2%. In November 2006, the government and the Bank of Canada issued a joint statement indicating that the inflation target for the bank for the next five years would continue to be 2%, as defined by the consumer price index. It's important that the policy goal of the central bank be in agreement with the government of the day.
We've been operating with that 2% inflation target almost consistently since we moved to inflation targeting in 1991. The first few years we called it inflation reduction targets because we wanted to get inflation down and keep it down. We've been operating with 2% for a number of years, and we have some interesting research under way looking at that.
With that agreement in place, it's very clear when you look at the Bank of Canada Act that the Bank of Canada has the authority to make the interest rate decisions that it deems to be consistent with achieving that 2%. We are obviously then held accountable for achieving that 2% inflation target through the decisions we take.