Recently published research from Business Monitor International, "Trinidad & Tobago Business Forecast Report Q1 2014", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 12/24/2013 -- Slightly stronger real GDP growth in Trinidad & Tobago during the first half of 2013 has reinforced our view that the twin islands' economic recovery will continue at a moderate pace in the coming months, primarily on the back of a rise in non-energy output. Moreover, we expect that increased short-term investment in the country's energy sector due to recent tax reform will also bolster the economy through 2014.
We believe that the central Bank of trinidad & tobago (cBtt) will keep the trinidad & tobago dollar (ttd ) trading sideways over the coming months, within the tightly managed ttd 6.32-6.42/us$ range it has occupied since January 2011. Moreover, our core view is that trinidad & tobago's exchange rate will stay within its current trading range through 2014 and into 2015, given the country's stable balance of payments of position and robust stock of foreign reserves.
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stronger economic growth will lead the central Bank of trinidad & Tobago to shift its policy bias from growth towards addressing inflation concerns in 2014, and we forecast 50 basis points of hikes to the benchmark interest rate to 3.25%. indeed, we believe that a rise in core inflation indicates strengthening demand-pull price pressures, and we have revised up our 2014 average inflation forecast.
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