Bank of Jamaica lowers inflation target

Bank of Jamaica sets new inflation target

The Bank of Jamaica has lowered its inflation target for the fiscal year as it continues to move towards a fully fledged inflation-targeting regime.

Headline inflation fell to 3% in March, the lowest level since 1967, which the bank attributed to a larger-than-anticipated fall in crude oil prices over the year. This prompted it to cut its inflation target for fiscal year (FY) 2016/2017 by a percentage point to 4.5–6.5%.

"This target assumes that international commodity prices will gradually

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