2  BIS central bankers’ speeches  Well, it’s not going to change the growth outcome, the growth outlook much, but if it [a rise in the oil price] can bring inflation expectations in line with 2% sooner, that would certainly be a positive factor for the whole recovery process. Just one final question.
We are talking about how Europe gets its mojo back, if you like, its swagger. Do you think credit availability and bank lending now are on a clear upward trajectory from here? Any reason to be concerned at all that the credit taps are starting to get turned off?