Bank of Jamaica increases Benchmark Interest Rate

Bank of Jamaica announces that, effective 30 March 2022, the rate offered on overnight balances on the current accounts of deposit-taking institutions, the policy rate, will be increased to 4.50 per cent per annum from 4.00 per cent per annum.

Consequent on the adjustment in this rate, effective Wednesday, 30 March 2022, the rate on the Bank’s overnight Standing Liquidity Facility (SLF) will be increased to 6.50 per cent per annum from 6.00 per cent per annum. The rates on the Bank’s weekly 14-day repurchase operations and 30-day Certificate of Deposit (CD) will continue to be determined by auction.

Post Author: Editorial Team