CBS set to meet reserve money target by March end

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CBS set to meet reserve money target by March end

Post  Sirop14 on Thu Mar 24, 2016 12:04 pm

CBS set to meet reserve money target by March end

The Central Bank of Seychelles is expected to comfortably meet its reserve money target by the end of the first quarter.
This came to light this week following the bank’s first quarterly monetary policy meeting for the year 2016 which took place on Monday.
The Board of Directors discussed the impact of international developments on the Seychelles economy with particular focus on the Eurozone area, the growing risk of Brexit and the economic slowdown in China.
While global commodity prices have stagnated since the start of the year, double digit declines were recorded relative to the corresponding period in 2015.
Oil prices have also contracted in comparison to the previous quarter but remained volatile.
The Board was briefed on recent domestic economic developments through a review of latest statistics and policy revisions.
Monetary data showed moderate growth in the money supply while credit to the private sector expanded by 9.5 per cent in February on a year-on-year basis, albeit significantly lower than the corresponding period of last year when it stood at 22 per cent.
In the previous month, credit growth stood at 7.4 per cent.


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