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...

The Government has signed a Memorandum of Understanding (MoU) with the Economic Programme Oversight Committee (EPOC) to extend domestic monitoring of Jamaica’s economic reform programme (ERP) beyond the end of the Precautionary Stand-By Arrangement with the International Monetary Fund (IMF). The MoU was signed today (August 22) by Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke;...

Inter-American Development Bank (IDB) Caribbean Country Manager, Therese Turner-Jones, believes Jamaica’s proposed transformation to a fully digital economy will enhance public service delivery and, by extension, the lives of persons accessing attendant provisions. Among the potential benefits to be derived, she says, are the streamlining of benefits, so that they “get to where they ought to be,” and significant savings...

Principal Director of the Public Sector Transformation and Modernisation Programme (PSTM), Office of the Cabinet, Wayne Robertson, says the recently launched Electronic Business Registration Form (eBRF) will help Jamaica to improve its ranking on the World Bank Doing Business Report Index. The island is ranked at 75 among 190 economies, according to the 2018 Doing Business Report. Speaking at a...

This year, three new categories of awardees will be introduced into the Civil Servants of the Year Award, to broaden the scope of eligible nominees as part of efforts to revitalise the initiative. The three categories are Technical, Management and Middle Management. Each awardee will receive a cash prize of $200,000. All three awardees will complete a joint community project...

Jamaica stands to benefit significantly from the Foreign Exchange (FX) Global Code Certification Programme now being offered for financial services industry professionals. The programme, which commenced earlier this year, involves collaboration with the ACI Financial Markets Association (ACIFMA), and coincides with Jamaica’s signing of the Bank for International Settlements (BIS) FX Global Code. The Code provides a common set of...