Industry committee  One model can show the impact of an increase in the dollar on the manufacturing sector, and another can show a different impact. It's not our role to build models or to assess the impact of a one-cent increase on the manufacturing sector. As Ms. St-Jacques mentioned a little earlier, the Bank of Canada makes studies that can answer your question available to the public.

Industry committee  What we can say with more certainty is that the value of the dollar rose roughly 19% from December 2002 to December 2003, approximately 8% from December 2003 to December 2004, some 5% between December 2004 and December 2005 and approximately 5% since the start of the year. We can say that many of the adjustments to the higher dollar have already been made.

Industry committee  As Ms. St-Jacques said earlier, it's not our role to build models to determine the effect of an increase in the value of the dollar on the economy.