8 March 2026
1. ECCB to Phase Out EC Dollar Notes Featuring British Monarch
The Eastern Caribbean Central Bank (ECCB) plans to begin replacing EC dollar notes bearing the British monarch's image with those featuring regional figures in 2027. This move aims to strengthen Caribbean identity and reduce symbolic ties to the British monarchy. (antiguanewsroom.com)
2. IMF Highlights Fiscal Challenges in Eastern Caribbean
The International Monetary Fund (IMF) has expressed concerns over high public debt and uneven fiscal discipline within the Eastern Caribbean Currency Union (ECCU). These issues may limit governments' ability to respond to economic shocks, potentially affecting the stability of the EC dollar. (jamaicaobserver.com)
3. Caribbean Economies Face Modest Growth Amid Global Uncertainty
The Caribbean Development Bank (CDB) forecasts modest growth for Caribbean economies in 2026, citing global uncertainties and fiscal pressures. This economic outlook could influence the performance of the EC dollar. (caribank.org)
4. ECCB Reappoints Governor Amid Economic Challenges
The ECCB has reappointed Timothy N.J. Antoine as Governor for a five-year term, effective 1 February 2026. This decision underscores the importance of leadership continuity as the ECCU addresses evolving global economic conditions and internal challenges. (antiguanewsroom.com)
Canadian Dollar Update
Updated 01 Aug 2026 • 23:45 GMT
The Canadian dollar has shown resilience against the US dollar, driven by fluctuating oil prices and cautious monetary policy from the Bank of Canada (BoC). As of mid-July, USD/CAD is trading around 1.4033 after stronger oil prices provided support to the loonie, despite the BoC's decision to hold its rate steady at 2.25% but keeping the possibility of future hikes open. Market sentiments are tempered by weak inflation and trade uncertainties, particularly concerning the USMCA, which are impacting near-term CAD expectations.
Key watchpoints:
- Monitor changes in global oil prices as they significantly impact the commodity-linked Canadian dollar.
- Watch for any updates or changes in monetary policy from the Bank of Canada, particularly rate hike announcements.
- Pay attention to upcoming Canadian employment and economic data releases for further insights into CAD movements.