The Role of Confidence in Central Bank Communication

I think no matter where you look, both in Europe and in North America, but also central banks elsewhere, they communicate that we're kind of close to the peak. Do you see that as a feasible scenario that central banks can actually stay at at a plateau of elevated rates, say, into 2024, maybe even to 2025? I don't think they will stay there for 2024 to be honest, but I think that their time frame is at least communicating until no cuts in 2023 for sure. Makes sense. For now, both doesn't mean pivoting. Both means we stay in restrictive territory for having.