THE CENTRAL BANK is going after a larger share of the millions of dollars Barbadians are now stashing away in commercial banks and other deposit-takers.
Yesterday, one month after giving those entities it regulates freedom to set their own minimum savings rate, Governor Dr DeLisle Worrell announced that a new $10 million Government saving bonds issue with some revamped features would hit the market next week.
And while Worrell pointed out that savings bonds have been offered since the 1980s, he acknowledged that the relaunch was partly an effort to ensure that, with the liberalisation of the rate for deposits, the banks would have “competition” and savers access to alternatives.
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