Phase-shift time curves following a bolus injection of gadolinium contrast agent were registered for grey-matter regions and large vessels in 14 subjects. Deconvolving a tissue phase-shift curve with a phase-based arterial input function resulted in a tissue residue function R(t). The peak value of R(t) provided a relative cerebral blood flow (CBF) index, while the area-to-height ratio of R(t) provided quantitative mean transit time (MTT). For comparison, quantitative CBF values in grey matter were acquired using model-free arterial spin labelling (ASL). The phase-based relative CBF estimates showed good linear correlation with ASL-based CBF (r = 0.82). Grey-matter MTT was 4.9 +/- 1.1 s (mean +/- SD).