Peter Nicholl Attended a Meeting of the Central Bank Governors in Istanbul

The Governor of the Central Bank of Bosnia & Herzegovina, (CBBH), Mr. Peter Nicholl attended a meeting of the Central Bank Governors in Istanbul over the weekend, it began on Friday May 7th 1999.
The CBBH joined the group of Balkan, Black Sea & Central Asian central banks last year, however this was the first meeting at which the CBBH was represented. The group has 14 member central banks, the latest to join being Greece.
The main item on the agenda of the meeting was a discussion with Tommaso Padoa-Schioppa, a member of the Executive Board of the new European Central Bank, (ECB), on the role of, and prospects for the EURO.
Mr. Padoa-Schioppa said that the ECB believed the EURO had fallen too far against the US Dollar, though he noted that it had not fallen against most other currencies. He thought the EURO would stregthen gradually in the future because of its' intrinsic merits: A high degree of anti-inflationary credibility, the creation of broad and deep financial markets in EUROS, the strength of the EURO-economic area and the position of Europe as one of the worlds' trading areas.
Mr. Nicholl said, "The discussion on the EURO was very interesting and useful for the CBBH as the KM (BAM), is now tied to the EURO through the DEM. I came away from the meeting with even more confidence that our "Currency Board" link to the EURO is the appropriate monetary policy for BiH and that the EURO will be a sound and stable anchor for our policy." Mr. Nicholl said that the meeting had two other useful outcomes for him. "First it enabled him to meet a number of other Central Bank governors from the regions.
Secondly, Mr. Padoa-Schioppa said that the ECB was willing to assist the central banks of the region in areas such as training and economic and financial information. This could be very useful to the continuing development of the CBBH,"
Mr. Nicholl said. For further information please call the CBBH Office of Public Relations, Office of the Governor at 071-444-785 or email [email protected] .