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Insurance rates not expected to increase
Cayman Islands Insurance Association Treasurer, Yaremis Hydes, says global reinsurance markets have received more investment to deploy to local insurance markets, meaning the price of insurance is not expected to increase.
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Cayman Compass
Interest rate relief is near, but path forward remains uncertain
After an extended pause, the monetary tide has turned. The US Federal Reserve is now widely expected to cut rates four times over the next year, totalling a full percentage point, starting in September.
For Cayman, this shift could offer some breathing room. Any reduction in borrowing costs will be welcome news for households and businesses.
However, the outlook is far from a return to the historic low rates of the 2010s.
US central bankers now estimate the ‘neutral’ interest rate – the neither stimulative nor restrictive level – at around 3%. Overall, despite this, the tone has changed and this extended period of uncertainty looks set to end – a shift that could bolster consumer and business confidence.
