Bank of Jamaica Adjusts Width of the Interest Rate Corridor
Bank of Jamaica announces that, further to the recent monetary policy decision announced on Thursday, 27 March 2025 to hold the policy rate at 6 percent per annum, the decision has also been taken to narrow the interest rate corridor by 100 basis points from 200 basis points to 100 basis points. Consequent on this, effective Friday, 28 March 2025, the rate on the Bank’s overnight Standing Liquidity Facility (SLF) will be decreased from 8.00 per cent per annum to 7.00 per cent per annum.
The rate on the Bank’s 30-day Certificate of Deposit (CD) and 14-day repurchase operation will continue to be determined via competitive auction.
