monetary policy report

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Monetary and Financial Developments Report – January 2021

Monetary and Financial Developments Report – January 2021

The thrust of monetary policy in 2020 was to deliver inflation within the medium-term target of 8±2 percent while supporting the overall economic policy of Government. However, COVID-related factors drove prices, especially the spike in inflation observed during the second quarter of 2020, which was on the back of events preceding the partial lockdown.