Mr. Gavin Kelly:

We have had a focus on fixed rates for the last number of years. We believe a fixed rate gives certainty to a customer and to the bank. Some 90% or more of our new mortgages for the last number of years have been fixed rates. From our perspective, our focus for customers and in how we promote our rates is about fixing rates. I believe that is an approach that has stood to customers and ourselves, particularly when we see what is happening at the moment. Giving that certainty to customers around fixing their mortgage rate is something we have supported as our strategy over the last number of years.