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‘Low or no interest on savings dampens biz credit’
Article by December 17, 2020
The monetary policy of either lower or no minimum interest savings rates could be affecting critical lending to businesses, a Barbados Economic Society (BES) study has suggested.
Presenting the research on Wednesday to an online banking and finance business forum, BES President Simon Naitram said it was clear that there was greater need for policymakers in Barbados and the Eastern Caribbean to better understand risks to commercial banks, and how they perceive those risks in order to better think about how monetary policies would trigger various outcomes.
Naitram said: This understanding can help us to make better monetary policy decisions with a clearer understanding of how it affects not just aggregate business lending, but also how it affects specific groups including low wealth individuals, and particularly a country like Barbados with a long history of wealth inequality.