BOJ holds policy rate
The Bank of Jamaica (BOJ) on Friday announced its decision to continue in holding the policy interest rate (the rate offered on overnight balances at the bank) unchanged at 0.50 per cent per annum, effective December 23, 2019.
The decision to hold the policy rate unchanged, they said, is based on the view that monetary conditions are generally appropriate to support inflation remaining within the inflation target of 4.0 per cent to 6.0 per cent over the ensuing eight quarters.
“Bank of Jamaica will therefore continue to closely monitor the impact of the significant monetary loosening undertaken thus far on credit expansion, capital market transactions, overall economic activity and, consequently, the impact on inflation to determine the appropriate future path for the policy rate,” a release said.
The next policy decision announcement date is scheduled for February 19, 2020.
