Bank of Jamaica Lowers Policy Rate

• The Bank of Jamaica announced its decision to lower its policy interest rate by 25 basis points to 1.25%. The reduction will take effect on March 28, 2019.
• The decision to lower the policy rate is aimed at supporting inflation reaching the target of (4.0% to 6.0%) by December 2020.
• The rate reduction is intended to stimulate faster expansion in private sector credit which should lead to higher economic activity, consistent with the inflation target.

(Source: BOJ Press Release)