BRH Monetary Policy Note (2018-Q1)

Banque de la République d'Haïti • 2018 • 12 pages

Summary — This note from the Banque de la République d'Haïti (BRH) reviews monetary policy in December 2017. It discusses the economic environment, policy decisions, and outlook, focusing on inflation, exchange rates, and monetary aggregates.

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Key Findings

The macroeconomic environment was marked by an increase in the exchange rate in late October 2017.
The BRH reinforced its policy of systematically absorbing excess liquidity by increasing the required reserve ratio on liabilities in dollars.
Inflation slowed despite the increase in the money supply due to the evolution of monetary financing and the depreciation of the gourde.
The BRH intervened in the market through net sales totaling US$11.44 million.
The monetary authorities modified the required reserve ratios on foreign currency liabilities from 48% to 49.5%.

Full Description

This monetary policy note from the Banque de la République d'Haïti (BRH) analyzes the macroeconomic environment and monetary policy decisions made in December 2017. It covers the international and domestic economic context, including trends in inflation, exchange rates, and monetary aggregates. The note also outlines the BRH's policy responses, such as managing liquidity and intervening in the foreign exchange market, and provides a brief outlook for the near term.

Topics

Geography

Time Coverage

2017 — 2017

Keywords

monetary policy, inflation, exchange rate, economic conditions, Haiti, BRH, Banque de la République d'Haïti, monetary aggregates, liquidity, reserves

Entities

Banque de la République d'Haïti, BRH, Réserve Fédérale, Fed, Banque Centrale Européenne, BCE