Richard Byles on Jamaica’s inflation-targeting baptism of fire

The Bank of Jamaica governor speaks with Christopher Jeffery about forex interventions, setting up digital disruptor banks and the next steps for Jam-dex

How would you assess the successes and the challenges so far in introducing an inflation-targeting framework in Jamaica?

I would say there has been notable success and some challenges. Success in the sense that we have brought headline inflation down from 11.8% at April of 2022 to 5.9% at September this year. (Note that the inflation outturn was further reduced to 5.1% in October 2023). The markets have remained reasonably stable. The financial sector is well capitalised and non-performing loans

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