French Pacific monetary authority raises rates
IEOM orders 75bp increase in deposit rate to combat inflation
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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