As we consider the impact and recovery from Dorian, the general outlook for the Bahamian economy is for some setback in the near-term, with the revised growth projection still positive for 2019, but at less than the levels forecasted prior to the storm’s passage. In 2020, the outcome could be flat to negative, with a return to positive territory in 2021.
Several other major central banks, such as the European Central Bank (ECB) and the Swiss National Bank, do not label themselves as inflation targeters; however, they have incorporated key features of that framework, including a numerical definition of price stability, a central role for communications about the economic outlook, and a willingness to accommodate short-run economic stabilization objectives so long as these objectives do not jeopardize the primary goal of price stability.