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In line with international market expectations
CBCS leaves pledging rate unchanged
Willemstad/Philipsburg – The Centrale Bank van Curaçao en Sint Maarten (CBCS) decided to keep its current monetary policy unchanged by leaving the pledging rate at 5.75%. This decision is based on the market expectations that the Fed will leave its target policy rate unchanged amid the declining trend in U.S. inflation. Furthermore, although the gross official reserves are expected to decline slightly, the import coverage is expected to remain stable well above the norm in 2024. An adequate import coverage supports the main objective of the CBCS’ monetary policy, namely maintaining the stability of the peg of the Netherlands Antillean guilder to the US dollar. In the near term, changes in the monetary policy indicators are expected to be limited, yet uncertainties remain.