Weekly Report - 1 November 2005

EASTERN CARIBBEAN | Decade-high growth predicted. GDP growth next year in the Eastern Caribbean Currency Union (ECCU) will average 7%, the highest rate in more than a decade, according to the monetary council of the Eastern Caribbean Central Bank (ECCB), which met last week in St Kitts. Growth this year is expected to reach 5.8% fuelled by expansion in construction and in tourism-related activities. It noted that the inflation rate this year increased mainly due to increased oil prices, but was nonetheless comparable to that of the US, to whose currency the EC dollar is pegged.

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