The total value of outstanding certificates of deposit (CDs) will be $127 billion on Friday.
This follows the decision by private commercial banks, securities dealers, insurance companies, pension funds individuals and public sector agencies to purchase $51.2 billion in CDs on Tuesday in order to replace maturing instruments equivalent to the same amount.
The Bank however accepted only $40 billion at an average interest rate of 6.56% per annum.
The lowest bid was 5% per annum for $316,000, while the highest bid was 8.99% per annum for $200 million.
Certificates of deposit are one of the Bank of Jamaica's principal instruments of liquidity management used to contain inflation.
The next auction will be on November 11, 2026.
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