Bank of Jamaica decreases Benchmark Interest Rate
Bank of Jamaica announces that, effective 1 October 2024, the rate offered on overnight balances on the current accounts of deposit-taking institutions, the policy rate, will be decreased from 6.75 per cent per annum to 6.50 per cent per annum.
Consequent on the adjustment in this rate, effective Tuesday, 1 October 2024, the rate on the Bank’s overnight Standing Liquidity Facility (SLF) will be decreased from 9.75 per cent per annum to 9.50 per cent per annum. The weighted average yield on the Bank’s weekly 30-day Certificate of Deposit (CD) will continue to be determined by auction.
