BOJ Holds Policy Rate at 0.50 Per Cent

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Bank of Jamaica (BOJ) announces its decision to hold the policy interest rate (the rate offered to deposit-taking institutions on overnight placements with BOJ) unchanged at 0.50 per cent per annum.

BOJ taken the monetary policy decisions aimed at ensuring that the annual increase in the prices of consumer goods and services (i.e. inflation) remains within the Bank’s inflation target of 4.0 per cent to 6.0 per cent. Today’s decision to hold the policy rate unchanged was made by a unanimous vote by the Bank’s newly formed Monetary Policy Committee (MPC).

A summary of the discussions influencing today’s monetary policy decision has been published on the Bank’s website and will be discussed at Bank of Jamaica’s monetary policy press briefing, scheduled for Thursday, May 19, 2021.

The next policy decision announcement date is June 30, 2021.

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