Thereafter, the number of euro banknotes in circulation fell until the end of August 2002 [to 7.3 billion banknotes]. In particular, the number of EURO 5 banknotes in circulation declined by 51% and the number of EURO 10 banknotes by 30% between mid-January and the end of August.
The policy preference for the period ahead is strongly in favour of price stability and well-anchored inflation expectations with the endeavour being to contain inflation close to 5.0 per cent in 2007-08 and to the range of 4.0-4.5 per cent over the medium-term.