Jamaican Central Bank Interest Rate Cut – Currency Thoughts
Jamaican Central Bank Interest Rate Cut
December 23, 2024
The latest central bank to announce the result of its last monetary policy review of 2024 is the Bank of Jamaica. Officials there reduced the interest rate by 25 basis points to 6.0%. This was the fourth such cut since August. The rate previously had been held at 7.0% since December 2022. Jamaican consumer price inflation has fallen from as high as 11.8% in April 2022 down to its targeted corridor of 4-6%. At a 41-month low of 4.3% as of last month, inflation is in fact nearing the range floor. “The scope for further policy easing will depend on the trajectory of inflation relative to the lower bound of the inflation target range,” according to the released statement from officials.
Copyright 2024, Larry Greenberg. All rights reserved. No secondary distribution without express permission.
Tags: Bank of Jamaica
ShareThisYou can leave a response, or trackback from your own site.
Leave a Reply
You must be logged in to post a comment.
