In particular, we will continue to take into account how the economy is adjusting to higher interest rates, given the elevated level of household debt, and whether strong consumer confidence builds on solid job and income growth and leads to greater-than-expected consumption. We will also pay close attention to global trade policy developments and their implications for the inflation outlook.
The environment for asset disposals has, however, been getting more difficult, as the Eurozone crisis has widened and the imperative to deleverage has touched other banks as well. The remaining challenge, then, in this space is to make sure that the asset disposal process remains on track and is concluded successfully.