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The repo rate could then be cut, and the bond purchases extended. But there is of course a floor for the repo rate and a ceiling for the purchase of bonds – our aim after all is to get inflation up in an orderly manner. If the inflation outlook deteriorates more substantially, we could therefore end up in a situation where monetary policy can no longer do anything meaningful to raise inflation. In such a situation we would be forced to accept that it would take longer to bring inflation up. I would like to emphasise that I see a major difference between that kind of development and the increased patience with low inflation that the critics call for and that I have discussed in this speech today. My view is that the Riksbank should use its monetary policy tools to the full in order to attain the inflation target as well as possible. This does not mean that we are pursuing an inflexible monetary policy which aims to keep inflation at exactly 2 per cent all of the time, but when inflation has been clearly below target for many years we must focus on raising inflation and ensuring that inflation expectations are anchored around 2 per cent. Finally, I would like to reiterate that our main scenario is that the monetary policy we are currently pursuing is sufficient to keep inflation rising and make it reach 2 per cent relatively soon.