Monetary Policy Annoucement
27 September 2024
Monetary Policy Announcement - September 2024
Global economic growth and inflation were fairly steady during the third quarter of 2024. Demand continues to pick up at a steady pace from the depths of the COVID-19 pandemic, with little evidence of overheating to date. Inflationary pressures are generally dissipating from the highs in 2023, in the absence of widespread wage-price spirals.
19 July 2024
Monetary Policy Announcement - July 2024
The Monetary Policy Committee of the Central Bank of Trinidad and Tobago (MPC) held a special meeting on July 19, 2024. The MPC examined the recent decline in excess reserves of commercial banks—the deposits held by banks at the Central Bank in excess of the required reserve ratio of 14 per cent of prescribed liabilities. The daily average of excess reserves measured $2,766 million from July 1 to July 18, 2024 compared to $3,914 million in June 2024.
28 June 2024
Monetary Policy Announcement - June 2024
Global economic conditions remain relatively stable. According to the International Monetary Fund, world growth for 2024 is forecast at 3.2 percent, unchanged from the 2023 estimate. Most central banks have either held their policy rates stable or lowered their rates as inflation pressures have eased.
28 March 2024
Monetary Policy Announcement - March 2024
Central Bank maintains Repo Rate at 3.50 per cent. Global economic growth for 2024 is forecast at 3.1 percent, according to the International Monetary Fund, the same rate as estimated for 2023. Most central banks in advanced and emerging market economies have either held their policy rates stable or have lowered their rates in recent months in the context of inflationary developments.
29 December 2023
Monetary Policy Announcement - December 2023
Central Bank maintains repo rate at 3.50 per cent. With inflation easing faster than anticipated and prospects for a ‘soft landing’ gaining momentum across several advanced and emerging market economies, international macroeconomic conditions appear relatively less constrained towards the end of 2023.
29 September 2023
Monetary Policy Announcement - September 2023
Despite some signs of resilience earlier in the year, continued though slowing inflationary pressures, still relatively high interest rates and the impact of geopolitical tensions pose immediate constraints to global economic activity.
30 June 2023
Monetary Policy Announcement - June 2023
The international economic recovery is slowing down. Key factors include the ongoing Russia-Ukraine conflict and the impact of tightening of monetary policies to contain inflation.
31 March 2023
Monetary Policy Announcement - March 2023
The global economy is rebounding faster than earlier anticipated from the COVID-19 pandemic. However, the headwinds of persistent inflation, ongoing geopolitical tensions and fresh financial stability concerns in early 2023 cloud the outlook.
30 December 2022
Monetary Policy Announcement - December, 2022
The global economy was faced with multiple headwinds in 2022. The spillover effects of the Russia-Ukraine war, a sharp slowdown in China, and widespread inflationary pressures dampened global growth.
30 September 2022
Monetary Policy Announcement - September 2022
The recovery of the global economy in recent months has not been smooth, and growth forecasts have been downgraded. Many central banks continued to raise policy rates as inflation soared past target levels.
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