Thursday, March 28, 2024

Rates will be ‘market-driven’

Date:

Share post:

BARBADIANS HAVE NOTHING TO FEAR now that the Central Bank is giving commercial banks, and other financial institutions that take deposits, the power to set minimum savings rates.

Barbados Bankers’ Association president Glyne Harrison gave that assurance yesterday, one day after the Central Bank announced that effective April 21 it would no longer set the minimum rate, which now stands at 2.5 per cent.

It said that “going forward, each commercial bank and deposit-taking institution would be responsible for setting its own interest rate”, a move it said came “after careful consideration of the performance of the domestic financial markets”. (SC)

Please read the full story in today’s Daily Nation, or in the eNATION edition.

 

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Related articles

Water bills for March to include February charges

A few weeks ago, the Barbados Water Authority (BWA) informed customers in parts of Christ Church and St....

BWA making a connection at the Bridgetown Port

The Barbados Water Authority (BWA) informs businesses near The Shallow Draft at the Bridgetown Port that the BWA...

Beyoncé shares ‘Cowboy Carter’ tracklist

Yeehaw! Beyoncé’s new album is almost here. The singer revealed the tracklist for “Act 2: Cowboy Carter” on Instagram...

Four killed during stabbing spree in Illinois

Illinois, USA - Four people have been killed and at least five injured after a man armed with...