We are being supported in this work by a group of market participants, chaired by David Puth of CLS, that contains people from all around the world on both the buy-side, including corporates, and the sell-side, along with trading platforms and non-bank participants.
However, as I have explained, the underlying trend in inflation is likely to rise steadily, and the inflation rate is projected to accelerate toward the target level of 2 percent as the effects of the decline in crude oil prices dissipate.