Economics
Seychelles Cuts Benchmark Interest Rate as Virus Outbreak Rages
- Borrowing costs dropped to 2% from 3% to support the economy
- Economy contracted 24.6% in first quarter from year earlier
This article is for subscribers only.
Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.
Seychelles central bank cut its key interest rate for the first time in a year to support the economic recovery, as the world’s most-vaccinated nation struggles to contain a surge in coronavirus cases.