Bank of Jamaica
The Bank of Jamaica has kept the Monetary Policy Interest Rate at seven per cent.
The central bank announced on Wednesday that it held the rate offered to deposit-taking institutions on overnight placements at this level to maintain tight Jamaican dollar liquidity.
The last adjustment in the rate was last November, as the BoJ keeps a close watch on the lag effect of previous decisions, and as inflation slows.
As at February, inflation stood at 7.8 per cent.
Effective April 1, the BOJ will also increase the cash reserve requirements applicable to deposit taking institutions by one per cent, in a bid to further slow inflation.
The next interest rate decision is due in May.
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