Curaçao and Sint Maarten raises rates 150bp

Central Bank of Curaçao and Sint Maarten

The Central Bank of Curaçao and Sint Maarten (CBCS) ordered a 150 basis point increase in the reference rate on September 2, to 3.5%. This is the second rate hike the monetary policy committee has made this year, following a 100bp move in June, the first post-pandemic change in the policy rate.

The central bank said in its statement that it projected continued growth for both countries in 2022. However, pandemic and war-related supply shocks are putting pressure on GDP, the balance of payments

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