The Eastern Caribbean Central Bank’s Monetary Council held the Minimum Savings Rate at 2.0% and the short-term and long-term Discount Rates at 3.0% and 4.5%, respectively, prioritising monetary and financial stability while supporting stronger growth, and matching the levels retained in February and July 2026. Across the Eastern Caribbean Currency Union, tourism activity continued to grow despite global uncertainty, although the region’s share of the global tourism market was declining. Commercial banks remained highly liquid, providing scope for increased private-sector lending. The Eastern Caribbean dollar remained strong and stable, with a reserve backing ratio of 98.0% and foreign currency reserves of XCD 6.0 billion as of the week ended 23 October 2026. Global growth remained resilient, supported by technological advances and artificial intelligence, but volatile oil prices, trade uncertainty and geopolitical conflicts posed significant risks, while rising global food prices added to household cost-of-living pressures. The Council called for stronger regional cooperation and timely implementation of strategic priorities to strengthen resilience and support sustainable growth.
Eastern Caribbean Central Bank Holds Minimum Savings Rate at 2.0%, Short-Term Discount Rate at 3.0% and Long-Term Discount Rate at 4.5%
The Eastern Caribbean Central Bank’s Monetary Council maintained the Minimum Savings Rate at 2.0% and the short-term and long-term Discount Rates at 3.0% and 4.5%, respectively. The Eastern Caribbean dollar’s reserve backing ratio stood at 98.0%, with foreign currency reserves of XCD 6.0 billion as of the week ended 23 October 2026.