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BOJ holds policy interest rate at 0.5%

The Bank of Jamaica has decided to hold the policy interest rate at 0.5 per cent. 
 
The rate is offered to deposit-taking institutions on overnight placements with the Central Bank. 
 
Monetary policy decisions made by the BOJ are aimed at ensuring that annual increases in consumer prices remain within the four to six per cent inflation target. 
 
The BOJ's assessment is that inflation over the next eight quarters will be lower than its previous projection of 4.7 per cent published in February but will remain in the target range. 
 


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