hold higher for longer, the dot plot moving to 5.1 percent, and a refocus as we preview the boe and ecp expected from both in terms of hikes but when it comes to the ecb, it is about the language around quantitative tightening. the bank of england is facing a conundrum as well in terms of divisions you might see for the mpc at the bank of england. let's get into the auto sector, one company that stands out, the largest carmaker globally. 2022 has been a year of big highs and arguably lows for volkswagen, the ceo was ousted. meanwhile, porsche shares have gained 25% since their trading debut, making the manufacture of luxury sports cars one of the best-performing ipos in europe this year. the volkswagen ceo is expected to present his new software strategy today. we are joined now by the cfo arno antlitz, thank you very much for joining us. as we look back briefly on this year, the success of the porsche ipo, the executive changes, and look into 2023, there are concerns about recession and energy. how is 2023 shaping out for volkswagen? arno: hello, tom. good to talk to you. let me go thr