We also need to agree on the height of the defences we are putting in place as this is linked to the overall level of protection we are aiming at. This will determine the appropriate level of capital. The official goal of the Delta Project is to reduce the risk of flooding.
With today's modest increase, we expect to pause rate hikes while we assess the impacts of the substantial monetary policy tightening already undertaken. To be clear, this is a conditional pause-it is conditional on economic developments evolving broadly in line with our MPR outlook. If we need to do more to get inflation to the 2% target, we will.