Mr. Speaker, the fact is that the agreement between the government and the Bank of Canada at 1% to 3%, mid point 2%, the trend rate, which is the most important rate, not in any single month but the trend rate over a series of months, is the core rate and that core rate is at 2.1%.
As to the basic question, I would simply point out to the hon. member that under our system the Bank of Canada is independent.