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To: Broken_Clock who wrote (14293)	7/9/1998 3:38:00 PM
From: Alex	Respond to of 116759

BBK'S MEISTER EXPECTS MOST ECB FX RESERVES TO BE IN DOLLARS ÿÿÿÿÿSTUTTGART (MktNews) - Bundesbank directorate member Edgar Meister said Thursday he expected the ECB's foreign exchange reserves to primarily include dollars and also involve yen. ÿÿÿÿÿSpeaking to reporters following a BBK council meeting and press conference here, Meister said the ECB's foreign reserves should be "mainly dollars and yen" but would be "primarily in dollars". ÿÿÿÿÿThe ECB announced Wednesday that 15% of the ECB's future reserves would be held in gold. Meister commented that he did not expect this decision to affect the gold markets substantially, saying "there were also discussions that it would be less" than 15%. ÿÿÿÿÿMeister said central banks must "think in the long term" regarding their foreign reserves and that the decision on reserve holdings "must also be valid in 10 years' time". [TOPICS: MNSEMU] 07:49 EDT 07/09 economeister.com