The Central Bank of Trinidad and Tobago left its benchmark interest rate unchanged at 3.50 percent on 26 June 2020 after cutting it by 150bps in an emergency meeting on 17 March 2020, on the expectation that the March 2020 monetary policy actions will have a stronger effect on credit as the domestic economy opens up. Policmakers underscored that commercial banks cut their prime lending rates, from an average of 9.25 percent to 7.50 percent after the central bank lowered in March the primary reserve requirement on commercial bank deposits by 3% to 14%. Policymakers added that they will continue to closely monitor domestic and international developments.
Interest Rate in Trinidad and Tobago averaged 5.08 percent from 2002 until 2019, reaching an all time high of 8.75 percent in September of 2008 and a record low of 2.75 percent in September of 2012. This page provides the latest reported value for - Trinidad and Tobago Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Trinidad and Tobago Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020. source: Central Bank of Trinidad and Tobago
Interest Rate in Trinidad and Tobago is expected to be 3.25 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Trinidad and Tobago to stand at 3.25 in 12 months time. In the long-term, the Trinidad and Tobago Interest Rate is projected to trend around 3.50 percent in 2021 and 3.75 percent in 2022, according to our econometric models.