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Press release 2023-019
CBCS leaves pledging rate unchanged
Amid signals of easing of interest rate hikes on international financial markets
Willemstad/Philipsburg – The Centrale Bank van Curaçao en Sint Maarten (CBCS) decided to pause its monetary policy tightening by leaving the pledging rate unchanged. This step is consistent with the recent decision of the Federal Open Market Committee of the Federal Reserve to leave the Federal funds rate unchanged. Even though gross official reserves and the import coverage have increased in the first six months of this year, they are still expected to decline in 2023 - although less pronounced than in 2022. Against this backdrop, the Monetary Policy Committee (MPC) of the CBCS will continue to monitor the economic and monetary developments in the monetary union closely and adjust the monetary policy stance if necessary.