However, especially during a crisis, we should not discount the positive effect of our swift and decisive action on consumer and business confidence, which can accelerate and reinforce the monetary policy transmission to growth and inflation.
I see an exciting future for the ARS as we go forward, based on the research underway at the Central Bank of Barbados (CBB), on policy options in what we are calling the Small Very Open Economies (SVOE). We see an opportunity here to exploit an unfulfilled niche in the global market for ideas.