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The Bank of Jamaica (BOJ) has announced a cut in the interest rate on 30-Day Certificates of Deposit as of today.
Certificates of Deposit are investment options.
The rate has been reduced by 50 basis points from 9.5 per cent to 9 per cent.
Meanwhile, the BOJ said it remains on target to achieve an inflation rate between 7.5 and 9.5 per cent this financial year.
The central bank said the inflation rate and the strengthening of the Jamaica dollar, which were recorded in May, are positive indicators.
The BOJ said the Net International Reserves is now US$1.75 billion.
According to the central bank, this is enough to buffer against financial or weather-related shocks that might threaten the achievement of the macroeconomic objectives.
http://go-jamaica.com/news/read_article.php?id=20287
Certificates of Deposit are investment options.
The rate has been reduced by 50 basis points from 9.5 per cent to 9 per cent.
Meanwhile, the BOJ said it remains on target to achieve an inflation rate between 7.5 and 9.5 per cent this financial year.
The central bank said the inflation rate and the strengthening of the Jamaica dollar, which were recorded in May, are positive indicators.
The BOJ said the Net International Reserves is now US$1.75 billion.
According to the central bank, this is enough to buffer against financial or weather-related shocks that might threaten the achievement of the macroeconomic objectives.
http://go-jamaica.com/news/read_article.php?id=20287
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