Mr. Tom O'Connell:

Yes, but I mean you see, the Central Bank ... in fact, I should have said it when Donovan and Gorecki asked me about that or put that paragraph to me, I sort of said ... they said to me, ''Isn't that very complacent?''. I said, ''No. That's Central Bank speak and it's negative in fact". In fact, you probably know loads of people have made a good living out of parsing the words of Greenspan or Bernanke or Mervyn King or whatever, you know, if they altered their statement from one month to the next. So in Central Bank speak, in my view, the overall assessment was possibly ... probably quite negative, even if it had used the words ''soft landing'' and ''things are manageable'' and so on. But if you read between the lines, as people who were familiar with Central Bank speak would do or would want to do, you could see that was pretty negative, you know?