MONROVIA, LIBERIA-The Central Bank of Liberia (CBL) has taken major decisions aimed at maintaining and promoting macroeconomic and financial stability in the Liberian economy.
On Tuesday, October 31, 2023, the CBL announced that it is maintaining its policy rate at twenty percent as a proactive response to inflationary pressures in the economy.
The Bank also said that it is maintaining the reserve requirement ratio at 25.0 percent for the Liberian Dollar and 10.0 percent for the US Dollar, as a liquidity management strategy to guard against pressures on the Liberian Dollar.
Making the announcement, CBL Executive Director, Aloysius Tarlue, disclosed that the Bank’s decisions are based on its Board of Governors’ evaluation of the domestic economy and implications of global economic developments on the Liberian economy.
Meanwhile, the Central Bank of Liberia reassured the public and business community of its unwavering commitment to promote a stable macroeconomic environment for conducive growth and development.
By: Jarp Davies/Prince Kordorwalee