Is that something that you actually aim for, that there is no clear signal? What the market has perfectly understood is that we will do whatever is necessary, without tying our hands ex ante. The proof is that inflation expectations are well anchored.
Opinions might differ on the overall environment, on what will happen exactly in this vast European economy of 315 million people, what will happen in the rest of the world, what are the new chances, opportunities and risks that might appear. Acting in a firm and timely manner to ensure price stability is warranted. The ship knows where it goes.