The Central Bank of Trinidad and Tobago (CBTT) said business operations are starting to recover following the gradual opening of the economy since the third quarter of 2021.

In its Monetary Policy statement, the CBTT said that with respect to financing, business credit rose by 1.3 per cent year-on-year in October 2021, the first increase since August 2018.


Recent lending was particularly buoyant to the construction, finance and insurance sectors, alongside the 4.6 per cent rise in mortgage lending.


However, consumer lending contracted by 2.3 per cent, despite a slight decrease in interest rates, and the weighted average lending rate of commercial banks declined to 7.04 per cent in September 2021, 16 basis points lower than in March 2021, the CBTT said.