Bank of Jamaica set for new powers in 2015

Bank of Jamaica

The Jamaican authorities are laying the groundwork for the central bank to assume responsibility for financial stability in the country, and possibly a full-fledged inflation targeting regime.

The plans were set out in a ‘letter of intent' sent to IMF managing director Christine Lagarde on December 3 by Bank of Jamaica governor Brian Wynter and minister of finance Peter Phillips.

At present, the authorities are preparing legislative amendments "to vest the BOJ with overall responsibility for fin

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