In fact, you do get the sense from comments from policymakers that there’s not a great deal of concern at the moment about the strength of the euro – which wasn’t true a few months ago – or the direction, I should say, of the euro. Is that true?
We were concerned always with excessive volatility in exchange rates, but we don’t have a target for the exchange rate, as you know. The volatility in foreign exchange markets, particularly among the advanced economies, has been attributable more to what has happened to the dollar than events linked with other parts of the world.