In comparison, at the end of 2006 the euro share in international debt portfolios amounted to more than 30%. And the share of euro in international forex reserve holdings rose to over 25 %. Here, however, we should take into account the limited data coverage with an undisclosed share of reserves of more than one third at the end of 2006.
Moreover, inflation expectations, those measured by both surveys and market prices, have moved lower and reside at the low end of a range I consider consistent with our price-stability mandate.