The signal is that if we have good growth in 2006 but no inflation, there is no need to raise rates. I would even say, one more hike (this year), but not necessarily at the next announcement.

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The Liberal Party didn't even recognize the existence of the fiscal imbalance, even though they created it.

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You have to be positive on 10-year bonds when you expect lower inflation. I don't expect the Bank of Canada to raise rates at its next meeting because inflation is low and going lower.

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There will have to be some major changes as time passes if the fiscal situation remains the same.

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