Bank of Jamaica cuts policy rate again
Central bank aims to get inflation back to target range by December 2020
The Bank of Jamaica lowered its policy rate on March 27 in part of its ongoing effort to bring inflation back up to target.
The central bank reduced the rate by 25 basis points to 1.25%, after cutting rates by the same amount in February. In the February meeting it also doubled down on its effort to raise inflation by announcing a reduction in reserve requirements, which took effect on March 1.
The central bank said it aims to get inflation back to the target range of 4–6% by December 2020.
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