This includes specifying the risks to the forecasts, and signalling, when appropriate, our view of the interest rate cycle. It is important to emphasise that any signal, whether quantitative or qualitative, should not be seen as an unconditional commitment to specific actions.
The use of a non-constant interest rate assumption remains a subject of discussion in many central banks, and we will continue to work on the utility of moving to such an approach. Our forecasts are continually changing, at times marginally, at other times more markedly.