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French Pacific monetary authority raises rates
IEOM orders 75bp increase in deposit rate to combat inflation
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The monetary authority that issues currency for France’s Pacific territories raised its deposit facility rate by 75 basis points on September 15.
The decision by the Overseas Note-Issuing Institute (IEOM), its second hike this year, brings that rate to 0.75%.
The IEOM also raised the deposit facility rate at its previous meeting in July by 20bp, to 0%. It also raised other key rates, hiking the six-month liquidity rate for banks by 55bp in September following a 50bp raise in July, to 0.95%.
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