Mr. Gabriel Makhlouf:

That is the Deputy's interpretation of my statement. I believe what I said was that we feel we have made a substantial contribution towards getting inflation back to the target. I am happy to confirm now that I am not saying that, at our next meeting, we are going to hold. Those who assume that we will hold are not speculating like those who believe we are going to cut in March but we are near the top. When will we know a bit more? In all honesty and to take a step back, as the Deputy will know, I do not give financial advice so people should not take what I say as the basis for decisions when planning what to do with their trackers and so on. When we have our next set of projections in December, we will have had more data points from now and what has happened over the summer will also have become a bit clearer. December will be the first set of projections to include 2026 in our horizon. We will then have a better sense, if not as certain a sense as the Deputy may want, of what the profile will be next year.