ECCB Communications Workshop for ECCU Media Practitioners

Eastern Caribbean Central Bank

Monetary Policy in the Context of the ECCB cont’d • Monetary Policy Tools Discount Policy /Rate – This refers to the power of the Central Bank to change interest rates. A central bank may therefore exercise close control over domestic credit or interest rates through manipulation of the discount rate as was done in May 1993 and August 2023.

Open Market Policy (Open Market Operations) – The purchase or sale by the Central Bank of governments’ securities in order to influence the money supply

Reserve Requirements – the Central Bank is authorised to prescribe minimum reserve requirements for banks and other financial institutions

Transforming The ECCU Together

3/30/2026

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