Jamaica ups policy rate by 50 basis points
Central bank “reduces monetary accommodation” as island faces high inflation
The Bank of Jamaica monetary policy committee raised the island-nation’s policy rate from 1.5% to 2% on November 16.
The MPC’s decision, taken unanimously, marked the second consecutive increase, after a 100-basis point hike in October. The October rate hike marked the first monetary tightening since 2019. In its press release, the central bank characterises its hawkish turn as “further [reducing] the level of monetary policy accommodation”.
The central bank’s near-term forecasts predict that
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Monetary policy decisions
Bank of Canada holds rates for sixth consecutive time
Central bank optimistic that rate cuts are ahead and inflation will gradually fall
RBNZ holds rates as economy enters recession
Policy-makers keep policy restrictive to tame inflation despite economic downturn
Philippine central bank holds rate
Central bank stays put after headline inflation rises for two consecutive months
Central Bank of Brazil cuts rate by 50bp
Copom says it expects to do the same at its next meeting in May
Bank of Korea holds rates amid property market concerns
Governor Rhee Chang-yong warns cutting rates too soon could reignite inflation
Caucasus central banks cut rates as inflation falls
Armenia, Azerbaijan and Georgia continue gradual easing, with Armenian inflation at -0.5%
Chile cuts rates for fourth consecutive meeting
Board forecasts inflation will return to 3% target in 2024
Colombian central bank begins cutting rates
Board splits over decision, as inflation remains above 10% while economy slows
Most read
- Bernanke calls for total redesign of BoE forecasting
- Taking stock of Bernanke: the original sin of forecasting
- Bank of England: time for fourth-generation forecasting tools?