Bank of Jamaica
The Bank of Jamaica says it will be seeking to take another J$15 billion out of circulation today to help stabilise the exchange rate and contain inflation.
This follows Tuesday's intervention in the foreign exchange market with US$30 million.
The bank also says investors will be presented with a Certificate of Deposit at an interest rate of 6.25% per year.
Some 750 million of the 15 billion dollars will be offered to public sector investors, while private sector investors will have to compete for the remaining $14.25 billion.
Interest paid on these deposits will be taxed at 25 per cent.
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