[1] As prepared for delivery [2] The ECU central rate was set at about 1.4% below the market rate prevailing at the time. [3] Santos, D., R. Evangelista, T. Nascimento and C. Coimbra (2002), “Analysis on the impact of the conversion of escudos into euro”, Banco de Portugal, Economic Bulletin, September 2002.
[4] Michael Ehrmann, “Rational inattention, inflation developments and perceptions after the euro cash changeover” ECB Working Paper Series, 588, February 2006.