Brian Wynter on Jamaica’s inflation-targeting transition

Brian Wynter
Felipe Iturra

The Jamaican economy needed to meet a number of important criteria before the Bank of Jamaica could consider pressing ahead towards a “full-fledged” inflation-targeting regime, said governor Brian Wynter in a speech earlier this year (see videos).

Most critical for the switch to using interest rates as the principal monetary policy lever was a shift away from fiscal dominance, which has largely been achieved by an ambitious economic reform programme supported by the International Monetary Fund.

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