The
sixty-first meeting of the Monetary Council of the Eastern
Caribbean Central Bank (ECCB) was held at the ECCB Headquarters
in St Kitts and Nevis on 8 February 2008 under the chairmanship
of the Honourable Victor Banks, Minister of Finance
of Anguilla.
Council received the Governor’s Report on Monetary
and Credit Conditions in accordance with Article 7(2)
of the Eastern Caribbean Central Bank Agreement 1983.
The report outlined developments in monetary and credit
conditions in the 12 months ended October 2007. It examined
the main indicators of exchange rate stability and critically
assessed the factors that support and or threaten the
stability of the system.
The report accordingly discussed developments in domestic
and global interest rates, developments in domestic
credit, the net foreign assets of the system, the fiscal
operations of member governments, the recent performance
in the real sector and other key macroeconomic and financial
indicators. The report also gave the Central Bank’s
perspective on anticipated developments in these indicators
for the first quarter in 2008. More
details of the Communiqué
Following the meeting the Council held a press briefing
with members of the St Kitts and Nevis media.
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