This is the purpose: We see the value of the guidance not only in what happened since July. What is more important is what will happen over the horizon of forward guidance, that is, an extended period of time.
And what will happen if rates increase further, but – as in recent weeks – also because of better economic data from the euro area itself and not only because of the US influence? Cœuré: We are looking at it closely in an environment where global financial markets are generally more volatile.