Bank of Jamaica decreases Benchmark Interest Rate
Bank of Jamaica announces that, effective 21 August 2024, the rate offered on overnight balances on the current accounts of deposit-taking institutions, the policy rate, will be decreased to 6.75 per cent per annum from 7.00 per cent per annum.
Consequent on the adjustment in this rate, effective Wednesday, 21 August 2024, the rate on the Bank’s overnight Standing Liquidity Facility (SLF) will be decreased to 9.75 per cent per annum from 10.00 per cent per annum. The rates on the Bank’s weekly 30-day Certificate of Deposit (CD) will continue to be determined by auction.
