Missed Inflation Target

If inflation falls either below the lower end of the target (below 4.0 per cent) or increases above the upper-end of the target (above 6.0 per cent) then the Bank is required to explain to the Minister of Finance and the Public Service and the Jamaican public why the inflation target was missed and the corrective policy actions that will be taken to restore inflation to the target. The Bank is required to notify the Minister of Finance and the Public Service within 60 days of the missed target.

Official Correspondences and Special Reports

• BOJ Governor’s Letter to HMFPS re Breach of Inflation Target- 25 April 2024
• Response letter from HMFPS re Breach of Inflation Target for August 2023 – March 2024
• BOJ Governor’s Letter to HMFPS re Breach of Inflation Target – 01 September 2023
• Response letter from HMFPS re MPC’s Explanation of the Inflation Breaches for May 2023 – July 2023
• BOJ Governor’s Letter to HMFPS re Breach of Inflation Target – 01 March 2023
• Response letter from HMFPS re MPC’s Explanation of the Inflation Breaches for September 2022 – January 2023
• BOJ Governor’s Letter to HMFPS re Breach of Inflation Target – 03 October 2022
• Response letter from HMFPS re MPC’s Explanation of the Inflation Breaches for June – August 2022
• BOJ Governor’s Letter to HMFPS re Breach of Inflation Target – 30 June 2022
• The HMFPS Response to the Governor – February 23, 2022
• Report to HMFPS on Breach of Inflation Target – February 23, 2022
• BOJ Governor’s Letter to HMFPS – February 23, 2022
• Response letter from HMFPS re MPC’s Explanation for the Inflation Breach in December 2021 and January 2022
• Report to HMFPS on Breach of Inflation Target – November 15, 2021
• BOJ Governor’s Letter to HMFPS – November 15, 2021
• The Minister of Finance’s Response to the Governor – July 28, 2021
• Response letter from HMFPS re MPC’s Explanation for the Inflation Breach in August and September 2021
• Report to HMFPS on Breach of Inflation Target – June 30, 2021
• BOJ Governor’s Letter to the Minister of Finance – June 30, 2021
• The Minister of Finance’s Response to the Governor – August 21, 2018
• BOJ Governor’s Letter to the Minister of Finance – August 21, 2018
• BOJ Governor’s Letter to the Minister of Finance – August 7, 2018
• BOJ’s Explanation on Inflation Outcome (Comprehensive Report)
• Ministry of Finance Press Release: Minister of Finance makes Public Official Correspondence on Missed Inflation Target
• The Pass-Through of Bank of Jamaica’s Policy Interest Rate to Market Interest Rate