China)  7.0 6.1 7.3 4.5  3.0 2.4 2.7 2.0  4.0 3.7 4.6 2.5  2.2 2.2 2.6 1.8  0.5 0.5 0.6 0.5  1.2 0.9 1.4 0.3  1 1978-2004  Source: Bosworth and Collins (2007).
The Governing Council will also continue to implement the gradual phasing-out of the extraordinary liquidity measures that are not needed to the same extent as in the past. In order to counter effectively any threat to price stability over the medium to longer term, the liquidity provided will be absorbed when necessary.