I had almost finished my address.
I'll conclude by saying that the lower rates we are expecting in 2024 will be the foundation for the economic recovery we are anticipating.
It will not necessarily be a very robust recovery, because we are expecting central banks to be cautious and not lower rates very quickly; in particular, they will not lower them to the baseline levels we were seeing in the last cycle. It will be a normalization of interest rates tied to inflation as it returns to its targets, which should lead to a recovery in the economy and the real estate market.