BRH Monetary Policy Note
- The BRH maintained its policy of absorbing excess liquidity to manage inflation and exchange rates.
- Economic activity was hampered by security concerns, fuel shortages, and poor agricultural performance.
- The annual inflation rate reached 48.3% in December 2022.
- The gourde depreciated against the US dollar, reaching 145.20 HTG/USD in December 2022.
- The banking system showed improved profitability, but also increased dollarization.
The Monetary Policy Note for the first quarter of fiscal year 2022-2023 examines the economic context and monetary policy decisions of the Bank of the Republic of Haiti. The report details the international economic environment, characterized by persistent inflation and monetary tightening in developed economies, and its impact on Haiti. Domestically, economic activity was hampered by security concerns, fuel shortages, and poor agricultural performance, leading to increased inflationary pressures. The BRH maintained its policy of absorbing excess liquidity through BRH bonds and interventions in the foreign exchange market to stabilize prices and the exchange rate.
How to cite
Bank of the Republic of Haiti (BRH), 2023, BRH Monetary Policy Note, https://www.brh.ht/wp-content/uploads/Note-de-Politique-Monetaire-2e-Trim-2023-Version-finale.pdf