Central bank

Central Bank redeeming one-cent coins indefinitely

Although the one-cent coin today ceased to be legal tender, holders of the coin can still exchange it for other denominations of currency. 

The Central Bank said in a statement today that while the coins can no longer be exchanged at commercial banks, the public may continue to redeem one-cent coins indefinitely at the Central Bank.

The opening hours for the Bank’s tellers are 8 am to 2 pm Mondays to Thursdays and 8 am to 3 pm on Fridays.

Regulations, which make rounding mandatory, will come into effect today.

Inflation below 1% in February

The Central Bank's Monetary Policy Report has shown that inflation has slowed considerably.

Headline inflation was 0.9 percent in February, while core inflation measured 0.5 percent.

The following is the Central Bank's report issued today:

"Since the last meeting of the Monetary Policy Committee (MPC) in November 2017, global growth prospects have continued to strengthen.