Bank of Jamaica launches ‘stronger actions’ against inflation
Central bank accelerates monetary tightening as inflation nears 10%
The Bank of Jamaica’s monetary policy committee decided “stronger actions” were needed to tackle inflation on February 18, as it voted to accelerate the process of tightening policy.
The MPC unanimously agreed to raise the policy rate 150 basis points, to 4%. It said in a statement it would also step in to curb the expansion of liquidity in Jamaican dollars and maintain stability in the foreign exchange market. Policy-makers noted the abundance of liquidity in the market seemed to be
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