MONROVIA, LIBERIA-The Board of Governors of the Central Bank of Liberia (CBL) has announced an increase in its Monetary Policy Rate by 250 points to 17.5 percent.
The CBL Executive Governor, Aloysius Tarlue, said:” The move by the Bank’s Board is aimed at pre-empting further inflammatory pressures in the third quarter of this year”.
Mr. Tarlue added that the Board, during its second quarterly meeting this year, affirmed its decision to maintain the existing reserves requirement ratio at 25 percent for Liberian Dollars and 10 percent for US Dollars.
He said the Board also urged the CBL to maintain the existing Open Market Operations Policy, offering bi-weekly CBL bills for commercial banks to subscribe to monthly and quarterly bills.
According to the Central Bank of Liberia Boss, the Board believes implementing these policy measures will help the CBL maintain macroeconomic stability, in the face of persistent global economic uncertainties and domestic commodity price instability.
By: Frederick Teegwiah, Jr.