Bank of Jamaica delivers first rate cut in two years
Inflation should remain within target despite Hurricane Beryl, MPC says
The Bank of Jamaica on August 20 reduced its policy rate by 25 basis points to 6.75% in a unanimous decision.
The central bank’s monetary policy committee (MPC) said in a statement that economic conditions were “generally supportive of low, stable and predictable inflation in the future”.
The MPC said it expected inflation to rise in the next three to five months because of agricultural supply shocks resulting from Hurricane Beryl, the Category 5 hurricane that struck the country last month
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