In response to higher expected interest rates on the international financial markets. | SMN NEWS

~CBCS further increases the pledging rate~

Willemstad/Philipsburg – The Centrale Bank van Curaçao en Sint Maarten (CBCS) will tighten its monetary policy stance further by raising the pledging rate by 150 basis points to 3.50%. The pledging rate, which was last increased on June 7, 2022, is the rate at which commercial banks can borrow at the CBCS in case of a liquidity shortage. The current increase of the pledging rate is consistent with a projected increase in interest rates on the international financial markets, particularly the fed funds rate. Although still solid, gross official reserves and import coverage ...

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