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BOJ racks up losses in bid to stabilise dollar, contain inflation

 
The Bank of Jamaica says its losses continue to rise as it steps up measures to stabilise the Jamaican dollar and contain inflation.
 
The central bank says its losses rose to $7.7 billion between January and September this year.
 
Inflation reached 7.9 per cent in the 12 months to August.
 
Meanwhile, the BOJ says its total assets increased to $1.3 trillion as at September 9, from $1.25 trillion a year earlier.
 
The increase was mainly due to higher foreign assets, which rose to $1.1 trillion, from $1 trillion.
 
Local assets also increased by $11 billion to $252 billion.
 
The bank's demand liabilities rose sharply to $858 billion, from $684 billion, while other liabilities fell to $398 billion.
 
Capital and reserves also declined to $56 billion, from $64 billion.


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