Where quarterly data are not available, yearaverage growth calculated from IMF data are used  (c)  Calculated as the average of standard deviations across countries  (d)  Dates used for adoption of targets are: Canada, 1991; Finland, 1993; Greece, 1998; Iceland, 2001; New Zealand, 1990; Norway, 2001; Spain, 1994; Sweden, 1993; the United Kingdom, 1992  (e)  Austria, Belgium, Denmark, France, Germany, Ireland, Italy, Japan, Luxembourg, Portugal and the United States.
In the course of this year, we will make net purchases totalling € billion. If necessary, this programme could be expanded again. The turbulence seen in the Italian government bond market in recent days is undesirable and needs to be allayed.