In February 1993, with the markka now a floating currency, the Bank of Finland committed to an inflation target of “less than two per cent” as the primary objective of its monetary policy. Under this regime, the confidence was gradually restored in financial markets, interest rates returned to normal levels, and the exchange rate recovered. A period of strong economic recovery also took place.
Merchandise  1989 to 1993 0 -½  1994 to 1998 +2 +3  1999 to 2003* +3 +3  -2½  +7  +4  19  16  -1.3 +1.7  -2.0 +3.9  +1 1.5  +R 5.2b -R26.6b  -R 7.9b +R50.9b  -R 9b ...  +2.2 +2.9 +13.6 19.2%  +9.2 +6.4 +8.1 18.9%  +7 +5 5.5 15.5  4.9  5.1  2.5  * Imports * Exports (including gold) 9.