Bahamas Central Bank Cuts Rate 75bps to 4.50%

The Central Bank of The Bahamas reduced the discount rate by 75 basis points to 4.50%. The central bank noted: "The existence of significant slack in the economy removes the near-term threat to the external position from an expansion in credit growth — which has been muted at some 0.7% for the six month period to end April 2011,".