The Bank of Jamaica (BOJ) Monetary Policy Committee (MPC) has unanimously agreed to lower the policy rate on overnight placements by deposit-taking institutions by 25 basis points, bringing it to 5.5 per cent per annum. Speaking during the Quarterly Monetary Policy Report press conference at the BOJ auditorium in downtown Kingston on Tuesday (February 24), Governor, Richard Byles, said the...

The Bank of Jamaica (BOJ) is projecting that inflation will average 5.9 per cent over the next two years. Governor, Richard Byles, advised that this forecast is below the previous projection of an average of 7.4 per cent. “It is projected that following possible temporary breaches of the upper limit of the target in the June and September quarters of...

The Government has earmarked $119.957 million in the 2026/27 fiscal year, to complete the Jamaican Path from Hills to Ocean Project. The project, being implemented by the Planning Institute of Jamaica (PIOJ), aims to increase resilience to climate change and reduce poverty through the implementation of an integrated and sustainable landscape management methodology. It is being funded through a $99.34...

The Government has allocated $30 million in the 2026/27 Estimates of Expenditure to enhance the resilience of the agricultural sector and coastal areas. The Estimates was tabled in the House of Representatives on February 12 by Minister of Finance and the Public Service, Hon. Fayval Williams. The ongoing project is being implemented by the Planning Institute of Jamaica (PIOJ), the...

The expansion project at Mount St. Joseph High School in Manchester is slated for completion in the upcoming fiscal year. Approximately $410 million has been allocated by the Government to commence and complete construction of the auditorium and canteen. The sum is contained in the 2026/27 Estimates of Expenditure, which was tabled in the House of Representatives by Minister of...

The Government has earmarked $1.66 billion to support the ongoing public-sector transformation programme. The allocation is included in the 2026/27 Estimates of Expenditure, tabled in the House of Representatives by Minister of Finance and the Public Service, Hon. Fayval Williams, on February 12. According to the document, the public-sector transformation programme aims to enhance the efficiency of managing the public...

The House of Representatives has approved changes to two pieces of legislation to address a long-standing administrative issue relating to the operation of the income and asset tax systems and respond to the national emergency caused by Hurricane Melissa. They are the Asset Tax Specified Bodies Amendment Bill and the Income Tax Amendment Bill, which provide for a limited adjustment...