The Central Bank of Trinidad and Tobago cut its benchmark interest rate by 150bps to 3.5% at in an emergency meeting on March 17th 2020, following peers across the world in an attempt to mitigate the impact of the fast-spreading coronavirus. Policymakers also lowered the primary reserve requirement on commercial bank deposits by 3% to 14%. The Committee said that those actions would amplify system liquidity in the short term and allow for a reduction in interest rate spreads by lowering commercial banks’ cost of funds. Policymakers added that they will continue to closely monitor domestic and international developments.
Interest Rate in Trinidad and Tobago averaged 5.08 percent from 2002 until 2019, reaching an all time high of 8.75 percent in September of 2008 and a record low of 2.75 percent in September of 2012. This page provides the latest reported value for - Trinidad and Tobago Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Trinidad and Tobago Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on June of 2020. source: Central Bank of Trinidad and Tobago
Interest Rate in Trinidad and Tobago is expected to be 4.75 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Trinidad and Tobago to stand at 4.50 in 12 months time. In the long-term, the Trinidad and Tobago Interest Rate is projected to trend around 4.00 percent in 2021, according to our econometric models.