Thank you very much.
Governor, you mentioned in the press conference last week that the path to a soft landing is now narrower.
My sense of it is that the risk now is greater that we will have some kind of economic event or economic uncertainty that in normal times would demand a lowering of the interest rate. It now looks like that may happen in 2025. However, if we can't get inflation down before that happens and if we don't have some kind of reason to lower the rate before 2025, before inflation comes down, we're not actually going to be able to lower the policy rate in order to deal with that economic shock.
Is that accurate?