BRH Monetary Policy Note (2013-Q2)
Summary — This document analyzes recent developments in the Haitian economy, focusing on monetary policy. It presents the monetary policy framework, aiming to inform the public about the direction of monetary policy, report on recent decisions by authorities, and outline short-term perspectives for the national economy.
Key Findings
- Inflation continued its upward trend, reaching 7.5% in November 2012.
- The Central Bank maintained its accommodative monetary policy, keeping interest rates unchanged.
- The gourde depreciated against the US dollar by 3.60% annually.
- The budget deficit for the first quarter of fiscal year 2013 was 628.8 million gourdes.
- Credit to the private sector increased by 6.33% to 56 billion gourdes.
Full Description
This note analyzes the Haitian economy's performance during the first quarter of fiscal year 2013. It examines the impact of climatic shocks on agricultural production and inflation, as well as the effects of government fiscal deficits and monetary financing. The document also reviews international economic conditions and their influence on Haiti, and it details the central bank's monetary policy decisions, including interest rate adjustments and interventions in the foreign exchange market.