Newly appointed Bank of Jamaica (BOJ) Governor, Richard Byles, says a “great foundation” for enhanced economic growth has been laid on which to build. “I am proud of the hard work that we have done across political administrations to move the economy forward. I am inspired to take the baton from [my predecessor] Governor [Brian] Wynter and play my part...

The Bank of Jamaica (BOJ) is reporting a 16.8 per cent increase in credit extended by deposit-taking institutions (DTIs) to private-sector businesses and households over the 12-month period to June 2019. Newly appointed Governor, Richard Byles, says this out-turn exceeded the 12.3 per cent recorded at the end of June 2018. He was speaking at the Central Bank’s quarterly briefing...

The Bank of Jamaica (BOJ) says the 4.3 per cent rate of inflation recorded for July 2019 represents the third consecutive month that the out-turn remained within the institution’s four to six per cent target range. In a statement on Tuesday (August 27), the Central Bank said the marginal 0.1 per cent uptick, which was 1.1 per cent higher than...

The Bank of Jamaica (BOJ) has further reduced the policy interest rate on deposit-taking institutions’ overnight placements by 25 basis points to 0.50 per cent, effective Wednesday, August 28. In a statement on Tuesday (August 27), the BOJ said the decision reflects its assessment that inflation is projected to average 4.3 per cent over the next eight quarters, which is...

Director General of the Planning Institute of Jamaica (PIOJ), Dr. Wayne Henry, says policy certainty is among the measures which will be key in safeguarding the country against the possible emergence of another global economic recession. “The intensity of any global recession is usually exacerbated by policy uncertainty. As such, policymakers have a critical responsibility to ensure that there is...

The Planning Institute of Jamaica (PIOJ) is reporting an estimated one per cent first quarter fiscal year growth for April to June 2019. Director General, Dr. Wayne Henry, says the out-turn, buoyed primarily by a 1.4 per cent expansion of the Services Industry, extends Jamaica’s growth trend to 18 consecutive quarters or four and a half years, despite the overall...

Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, says the Joint Select Committee of Parliament’s review of the Bank of Jamaica (Amendment) Act 2018 is far advanced. “I expect the amended Bill to be tabled in the House in this quarter and to be passed definitely before the next financial year. As far as the Fiscal...