Maybe I'll just come back on QE, because I know there's a lot of interest.
We will take full responsibility for our monetary policy actions.
What I want to stress is that there's nothing particularly special about QE. When you look through history, sometimes QE has been followed by inflation—we're seeing that now—and other times it has not. After the global financial crisis, the Fed embarked in large amounts of quantitative easing. It was not followed by a big increase in inflation.
If you look right now around the world, two of the countries that have had the biggest increases in their balance sheets are Japan and Switzerland. They have among the lowest inflation. In fact, the reason they've had such big increases in their balance sheet is that they've been trying to fight low inflation. They've been trying to get inflation up, but inflation has been low. What effect monetary stimulus has in your economy is very dependent on the situation in your economy.
I'm certainly not saying that too much monetary stimulus can't cause inflation. What I'm saying is that you do your best to provide the right amount of stimulus in the situation.