New Jamaican law could end Caribbean’s ‘colonial era’

Bank of Jamaica operational independence could transform region

Jamaican politicians are currently reflecting on whether or not to push ahead with a promise to pass legislation that would grant operational independence to the Bank of Jamaica to pursue an agreed inflation target.

Should they move forward with their commitment to institute legislation in October, it could trigger a trend towards central bank independence in the Caribbean region, so bringing to an end British, Spanish, French and Dutch colonial-era central bank laws.

The Bank of Jamaica Act

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