Bank of Jamaica Adjusts Width of the Interest Rate Corridor

Bank of Jamaica announces that, further to the recent monetary policy decision to hold the policy rate at 7 percent per annum, the decision was also taken to widen the interest corridor to 300 basis points. In that regard, effective 21 November 2023, the rate on the Bank’s Standing Liquidity Facility (SLF) will increase from 9.0 percent per annum to 10.0 percent per annum.

The rate on the Bank’s 30-day Certificate of Deposit (CD) will continue to be determined by auction.

Post Author: Editorial Team