Trinidad and Tobago cuts reserve requirement
Central bank plans move towards market-determined instruments of policy
The Central Bank of Trinidad and Tobago has cut the commercial bank reserve requirement from 14% to 10%.
The bank, which announced the cut following a special meeting on July 19, said it had taken the decision after the daily average of excess reserves held by commercial banks fell from $3.9 billion in June to $2.8 billion for the period between July 1 and July 18. The move takes effect during the reserve week beginning July 24.
“In the current circumstances, a lowering of the reserve requirement
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