Now, the independence of the Reserve Bank was the huge leap forward made, and we all know that New Zealand was ahead of the world in that. Our economists are still regarded as world leading in terms of identifying inflation targeting as a robust and effective economic tool. But times do move on, and, whilst that was a great innovation then, it doesn't mean there are not still better ways to do it—still better ways to manage money supply and to supervise our financial institutions in a way which is good for the New Zealand economy—and no more so than now, when we have extremely volatile international and local financial conditions and the Reserve Bank has at its disposal a range of tools. The question is: how should it use those tools? Should it use them in some kind of economic isolation, or should it use them taking into account the conditions on the ground, informed by what's going on around them, including what's going on in fiscal policy as well?