ECCB Communications Workshop for ECCU Media Practitioners

Eastern Caribbean Central Bank

Monetary Policy by Definition & Practice

• Definition(s): Bank of England – “Monetary policy is action that a country's central bank or government can take to influence how much money is in the economy and how much it costs to borrow .” Federal Reserve (FOMC) – “Monetary Policy refers to the actions undertaken by a central bank, such as the Federal Reserve, to influence the availability and cost of money and credit to help promote national economic goals. It is the combination of strategy and actions that the Federal Reserve employs to achieve the economic goals set for it by Congress .”

Central Bank of Trinidad and Tobago – “Monetary Policy refers to actions and decisions undertaken by the Bank to create appropriate conditions that are in line with the country’s economic objectives.”

Transforming The ECCU Together

3/30/2026

3