The Governor of the Bank of Jamaica (BOJ), Richard Byles, also provided an update concerning the Bank’s policy interest rate, which had been set at 7 percent as determined by the Monetary Policy Committee’s, MPC, decision on Friday. This policy interest rate pertains to the rate of interest paid on balances held in the current accounts of deposit-taking institutions at the Bank of Jamaica.
Governor Byles elaborated on the observations made by the MPC regarding the outcomes of prior monetary policy decisions. He further indicated that there is notable stability in the exchange rate, largely attributed to the BOJ’s strategic management of liquidity within the system. This has been achieved by offering securities to the market at appealing rates. Watch the report:Reporter: Kimberly Henry
For more stories, visit: Major Stories
