Bank of Jamaica lowers reserve requirements further

Jamaica

The Bank of Jamaica has lowered its reserve requirements for the second time this year, in an attempt to increase lending and spur inflation, it announced on May 15.

The central bank reduced the cash reserve requirement by two percentage points to 7%, effective on June 3.

The reduction should increase liquidity in the system by J$12.3 billion (US$91 million), the central bank said, “and thereby support the expansion of credit to businesses and households at lower rates and on better terms”.

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