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.
All these issues are better understood by an appreciation of tradeoffs, cost-benefit ratios, and opportunity cost, to name just a few core economic tools and principles. Finally, as we are so often told, people vote with their pocketbooks.