The Central Bank of Trinidad and Tobago agreed to maintain the repo rate at 3.5% during its June meeting. The decision is taken after assessing the evolving global and domestic developments and the short to medium term outlook. Policymakers noted that elevated energy prices globally have benefitted the country’s fiscal and external accounts so far. On the production front, domestic crude oil production rose while that of natural gas and petrochemicals declined. Meanwhile, non-energy sector is undergoing a gradual recovery as covid restrictions are lifted. Further, business lending continued to accelerate while the fall in consumer lending appeared to have bottomed out in March 2022, signalling a return in consumer demand to pre-pandemic levels. However, the monetary board reiterated that global inflation has spilled to the domestic market. Headline inflation rose to 5.1% in April from 4.1% in March, food inflation picked up to 8.7% from 7.9% and core inflation from 4.1% from 3.2%. source: Central Bank of Trinidad and Tobago
Interest Rate in Trinidad and Tobago averaged 4.88 percent from 2002 until 2022, 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 July of 2022.
Interest Rate in Trinidad and Tobago is expected to be 3.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Trinidad and Tobago Interest Rate is projected to trend around 3.50 percent in 2023 and 3.75 percent in 2024, according to our econometric models.