Jamaica cuts rates for second time in a week

The Bank of Jamaica on Thursday cut 150 basis points off interest rates for its open market instruments on signs of lower inflation and improvements in money markets.

The cut, which applies to all instruments, follows a 100 basis-point loosening last week.

The rate for 30-day instruments falls to 14.5%, for 60-day instruments, to 15%, for 90-day instruments to 17.5% and for 120-day instruments to 17.7%.

The central bank said that Thursday's cut was made "against the background of continued impro

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