In my remarks today, I want to talk about how the Bank of Canada is responding to this evolving environment. And part of our response involves looking at whether a case could—or should—be made in the future for a digital currency issued by the Bank of Canada. So I will share our contingency planning for that eventuality.
But it seems to me that the exchange rate now reflects the economic divergence that exists between the United States and the euro area better than it did before. Has the ECB exhausted its options with QE? No, the central bank would still be able to act should that turn out to be necessary.