Can the bank of Jamaica declare Independence Day?

JAMAICA / BAHAMAS - Report 09 Jun 2025 by Keith Collister

On Wednesday, May 21, the Bank of Jamaica (BOJ) made a surprise one-quarter point cut in the policy interest rate, namely the rate offered to deposit-taking institutions (DTI’s) on overnight placements, from 6 percent to 5.75. Justifying the cut, BOJ Governor Richard Byles noted that inflation continued to remain in the 4-6 percent target range, with April year-on-year inflation of 5.3 percent, or in line with April 2024. Core inflation also remains low, at 4.4 percent, and has been below 6 percent since July 2023.

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