Notwithstanding the fact that the Bank of Canada will say to you that they've only one instrument, one policy, that being the control of inflation, and that they have one average they have to look at—the Canadian economy as a whole—I don't doubt that when the board of the Bank of Canada is taking a look at its rate-setting, they also look at the economic context in which that's taking place and at the impact of their decision. The same occurs, I believe, in the case of the Fed.
I think there is scope, obviously, for people outside government to comment about whether it's desirable to see interest rates go up or down. The manoeuvring room, though, of the Bank of Canada is constrained, and at the table today you haven't been hearing from people calling for some dramatic action on the part of Bank of Canada to devalue the Canadian dollar. What you certainly have been hearing from us is the likelihood that we'll continue to see a Canadian dollar that is stronger than our productivity performance in Canada would suggest. As a result, then, we need to look at what measures can be put in place by government to ensure the competitiveness of Canadian business under those circumstances.