This supervisory mechanism is still relatively new territory for banks, as it has just recently celebrated its second anniversary. As you can see, the regulatory and supervisory world is changing significantly and rapidly for banks. Keeping up with these developments is a challenging task. On top of that, we are currently seeing significant structural changes in the market environment for banks.
In the pursuit of our 2 per cent target for total CPI, we use our core measure as an operational guide because it has been a good gauge of the underlying trend of inflation and has been a better predictor of future changes in the total index than has total CPI itself.