Central Bank of Trinidad & Tobago Holds Rate at 3.00%

The Central Bank of Trinidad & Tobago held its repo rate unchanged at 3.00%.  The Bank said: "With inflationary pressures remaining well contained so far and credit conditions improving, the Bank views the present accommodative stance to be appropriate and has decided to maintain the repo rate at 3.00 percent."  The Bank also commented: "credit conditions have continued to improve steadily although economic activity particularly in the non-energy sector is still quite lethargic."

Previously the Bank had cut the interest rate by 25 basis points in March, and July this year.  Trinidad & Tobago reported headline inflation of 2.5% in September, compared to 0.6% in August, and down from 12.5% in January 2011, and 13.4% in December last year.  Trinidad & Tobago's currency, the Trinidad & Tobago Dollar (TTD), has traded in a very tight range against the US dollar this year; the USDTTD rate was last recorded at 6.40.  The central bank will next review interest rates on the 25th of November.

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