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.
The Ministry of Finance says the "stable" outlook that Standard and Poors has given this country, reflects a belief that the current economic policies employed by the Government are working.
The Ministry says fiscal and monetary policy adjustments also contributed to the stable outlook.
The Ministry issued the following statement Tuesday morning:
"On April 21, 2017, Standard and Poor’s (S&P) lowered its long-term sovereign credit ratings for the Republic of Trinidad and Tobago from “A-” to “BBB+”.