This occurred most markedly at the turn of the year .

As in previous years , this occurred most markedly at the turn of the year .

As has been seen in the past , unexpected shocks can substantially increase the debt ratio .

In November 2006 these rates declined , but then rose again markedly in December .

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However , spreads vis à vis the euro area increased rather markedly in Hungary and Poland in the final quarter of the year .

As a result , the contribution of these instruments to the annual growth rate of M3 rose markedly to 1.7 percentage points at the end of 2006 , although this concealed quite different developments in the sub components .

In the first months of the year , stock price indices generally increased rather sharply in the euro area .

Since then the ECB 's foreign reserves have fluctuated markedly as a result of transactions and exchange rate movements .

A marked synchronisation of growth is forecast

ECB Annual Report 2006 C h a r t 1 2 L o n g t e r m g ove r n m e n t b o n d y i e l d s 1 ) ( percentages per annum

Within this component , the prices of cereals and bread and those of milk , cheese and eggs rose particularly sharply ( see Chart A ) .

In particular , current transfers increased steeply , reflecting a 247 marked increase in payments related to unemployment and other social security items

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By contrast , Denmark experienced a marked deterioration .

In the early 19th century, church attendance in Western Europe started sliding down very, very sharply, and people panicked.

Since then the ECB 's foreign reserves have fluctuated markedly as a result of transactions and exchange rate and price movements .

At 9.8 volts a similar sharp drop is observed.

Output of intermediate goods contracted particularly sharply in reaction to the halting of deliveries and destocking along the supply chain .

With inflation falling sharply, real incomes increased.

For more information , see Box 3 in the August 2004 issue of the ECB 's Monthly Bulletin . banks and a perception of lower risks in terms of expectations regarding general economic activity as the main factors behind the easing of credit standards .

Light gases, such as hydrogen and helium typically have high thermal conductivity.

Demand for debt securities with a maturity of up to two years increased markedly in 2006 , accounting for most of the rising contribution to annual M3 growth from marketable instruments .

Growth in unit labour costs has decelerated markedly over the 1990s . Import price developments have underpinned the disinflationary process during most of the period under review .

The troika the IMF, the European Commission, and the European Central Bank might have refused to provide an aid package, forcing Greece to compress imports even more sharply.

The fall continued sharply from 2 January 2002 .

On the other hand, outbreaks in pigs are common and do not cause severe mortality.

The main factor underlying this trend was the significant decline in the inflation differential .

This response is accompanied by a marked drop in the number of circulating CD4 T cells.

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Globo also faces a decrease of its audience in Rio de Janeiro, where the network is headquartered.

While stock prices in these sectors picked up sharply in the first quarter of 2000 , continuing an upward tendency that had been apparent from autumn 1999 onwards , they drifted downwards in the course of the rest of the year .

Both exports and imports grew considerably more strongly than in 1996 , partly reflecting the resurgence of growth within the EU ( which increased intra EU trade ) and buoyant economic conditions globally .

Both exports and imports grew considerably more strongly than in 1996 , partly reflecting

Confidence may also improve more quickly , the labour market deterioration may be less marked than previously expected and foreign demand may prove to be stronger than projected .

The country is warier of being manipulated.

The value of banknotes in circulation has risen more steeply than the number ever since the cash changeover , which reflects the particularly strong increase in the number of high denomination banknotes in circulation .

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The turnover in the ECU bond markets , when measured on the basis of trades settled in one of the two international securities depositories of the euro area ( Cedel Bank and Euroclear ) , also increased markedly in the course of 1998 .

As illustrated in the chart below , this decline is far too sharp to be explained by the slowdown in economic activity .

Relative to both the overall HICP and services prices , the decline has been even more marked ( see the chart above ) .

Second, the program would cause a large drop in the eurozone s aggregate interest payments.

There is marked heterogeneity across sectors , in particular with respect to the frequency of price adjustments .

What, if anything, should be done to minimize the risks of a rapid and sharp asset price reversal?

The pattern observed thus far during the 1990s is an illustration of the powerful effects which exceptional events combined with a strong deterioration in the macroeconomic environment can have on the debt ratio , particularly if the primary balance does not improve promptly so as to counterbalance such effects .