BRH Monetary Policy Note (2020-Q3)
Summary — This report by the Bank of the Republic of Haiti (BRH) analyzes monetary policy during the first quarter of fiscal year 2020 (October-December 2019). It discusses the economic context, policy decisions, and performance of the banking system.
Key Findings
- The Haitian economy was significantly impacted by socio-political unrest during October and November 2019.
- The BRH lowered interest rates on BRH bonds in mid-November to ease monetary conditions.
- The BRH did not sell foreign currency during the quarter due to the relative stability of the national currency.
- The banking system showed stability, but with a relative decline in asset quality and profitability ratios.
- The monetary base increased by 10.88% (broadly defined) and 12.92% (narrowly defined).
Full Description
This note provides an overview of Haiti's monetary policy during the first quarter of fiscal year 2020. It examines the global and domestic economic environment, including trends in inflation, exchange rates, and economic activity. The report details the BRH's monetary policy decisions during the quarter, such as interest rate adjustments and interventions in the foreign exchange market. It also assesses the performance of the banking system, including indicators of asset quality, profitability, and liquidity. The note concludes with a discussion of the outlook for the Haitian economy and monetary policy.