Source: Date: Updated: |
Thursday, October 4, 2018 Thursday, October 4, 2018 |
Preliminary indicators suggest that the economy’s modest growth rate was sustained over the review period, buoyed by gains in tourism sector metrics and positive impulses from foreign investment-led construction activity, according to The Central Bank of The Bahamas’ Economic and Financial Developments review for August published this week.
In terms of prices, the pass-through effects of elevated international oil prices contributed to an uptick in domestic energy costs during the month.
Monetary developments featured a contraction in liquidity, reflecting an increase in commercial bank lending to the government, as well as a falloff in domestic deposits. In addition, external reserves contracted, due to a rise in foreign currency demand to facilitate public and private sector transactions.
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This is an excerpt from as it appeared on October 25, 2018. For updates or to read the current version of this post in its entirety, please click here.
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