However, the actual decisions are taken on the basis of all of the information available concerning the currency market at that particular time. There is never an automatic reaction. During the past year, there has been great interest in placing funds in kroner, and we have mostly purchased currency. The foreign-exchange reserve has therefore increased by around kr. 50 billion.
It has also been possible to reduce the interest-rate spread in relation to the euro interest rate, and this is now as low as 20 basis points. When capital flows are reversed at some point in the future, we are of course also prepared to sell currency.