Worrell says Bank’s savings bond campaign a success

CENTRAL BANK GOVERNOR Dr DeLisle Worrell has hailed the bank’s savings bond campaign as a success.

He singled it out as “the most influential initiative of the bank in 2015” when he addressed his staff at their annual Christmas party at Hilton Barbados last Saturday night. Dismissing “naysayers” whom he said “lacked credibility”, Worrell said there had been an “overwhelming” demand for the bonds.

He added that the campaign had served to restore confidence in Government securities.

“The success of the revamped savings bond made it possible for the bank to complete the process of upgrading the way we conduct interest rate policy.”

Worrell explained that after 40 years, the Central Bank’s monetary policy was now being conducted entirely through the purchase and sale of securities, pointing out there was no longer mandated interest rates. (GC)

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