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JAMAICA Holds the Line: BOJ Keeps Rate at 5.50% as Middle East War Drives Oil Shock and Inflation Storm

With crude prices surging, inflation forecast to breach its target, and GDP growth fragile, the Bank of Jamaica's Monetary Policy Committee chose stability over manoeuvre — but the hard arithmetic for ordinary Jamaicans grows harder by the quarter.

KINGSTON, Jamaica, May 21, 20267 - The Bank of Jamaica is not blinking. Meeting on May 19 and 20, the Monetary Policy Committee unanimously voted to hold the policy interest rate at 5.50 percent per year — a decision that lands with the weight of a full war chest behind it and a forecast in front of it that offers precious little comfort.

WiredJA News Team News
Governor of the Bank of Jamaioca Richard Byles says MPC has held the policy rate at 5.50 percent.
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