Montserrat’s Premier and Chairman of the Eastern Caribbean Central Bank (ECCB) Monetary Council, the Hon. Reuben Meade, will preside over the 72nd Meeting on Friday 10th February.

The Meeting at the ECCB’s Headquarters in St. Kitts will see Governor of the sub-regional financial institution Sir K Dwight Venner presenting a report on Monetary and Credit Conditions in the Eastern Caribbean Currency Union (ECCU).

Sir Dwight will also report on the discussion on the minimum savings deposit rate, which is the lowest interest rate banks can offer on regular savings, and the Central Bank’s discount rate, which is the rate at which the ECCB lends to commercial banks and ECCB member governments.

The report will also examine price developments in the ECCU; financial sector stability issues; and the ECCU agenda for stabilisation and growth in the context of the OECS Economic Union.

During the meeting the Council Members will also receive and discuss other reports including an update on the Resolution Trust Corporation (RTC), which was established to restructure and provide financial support to financial institutions which operate within the ECCU.

Following the meeting, Premier Meade will present the Communiqué, and along with the other Members of the Council, field questions from media representatives in St. Kitts and Nevis.

The Monetary Council is the highest decision making authority of the ECCB and comprises the eight Ministers for Finance from the ECCB member countries.

St. Kitts and Nevis’ delegation will be led by Prime Minister and Minister of Finance, the Rt. Hon. Dr. Denzil L. Douglas.