Curaçao and Sint Maarten raises rates 150bp
Islands track Fed policy as inflation puts pressure on growth, trade balance and reserves
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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