5  Bollard, A (2004) "Asset prices and monetary policy" An address to Canterbury Employers Chamber of Commerce, Christchurch, 30 January 2004 http://www.rbnz.govt.nz/speeches/0145812.html  6  See http://www.rbnz.govt.nz/crisismgmt for details on the contingency planning that is being undertaken for this risk. 7  See http://www.rbnz.govt.nz/finstab/banking/outsourcing/index.html. 8  BIS Review 22/2006  Figure 2.
Until the end of 1997 they seemed convinced that the future single currency would display the average - not the best - characteristics of the currencies that it was designed to replace.