Suppose your parents tell you, “You have to study very hard” or “you have to study very very hard” – do these sentences make much sense? Yes, they certainly make. But, I am sure, “you have to get 80% marks” is something which will give you greater focus as the goal is unambiguously stated.
The third change is that we will introduce a speech each autumn by a member of Governing Council that will give an update on the Bank’s views about the evolution of the main vulnerabilities and risks to the financial system. This speech will draw from the analysis that is published on the hub.