Jamaica Monetary Policy Framework

  • Inflation in Jamaica will rise over the coming years as economic activity picks up and the cost of fuel imports rise with global crude prices.
  • Consumer price inflation will move higher this year into the central bank's 4.0-6.0% target band, settling near the upper threshold of this range at 6.0% over Fitch’s 10-year forecast period.
  • However, the expectation is that the Bank of Jamaica (BOJ) will keep its monetary policy accommodative in the near term, with interest rates to be lifted gradually with inflation.

(Source: Fitch)