CENTRAL BANK OF BARBADOS REDUCES DISCOUNT RATE FURTHER
The Central Bank of Barbados today announced another reduction in the discount rate.
With effect from June 1, 2009, the discount rate payable by banks and other eligible financial institutions on temporary advances from the Central Bank will be reduced from 8% to 7% per annum.
Since December 2008, the discount rate has been reduced from 12% to 10% and then again to 8% effective April 20, 2009.
This further reduction in the discount rate is intended to signal the Bank’s continued willingness to provide liquidity support at reduced rates.
May 18, 2009