Bank of Jamaica
The Bank of Jamaica will be floating another 6.25% per annum fixed rate CD on Wednesday, in order to mop up 4 billion dollars in liquidity to contain inflation as well as to stabilise the dollar.
The settlement date will be Friday, March 21, while the maturity date is Thursday, April 17.
About $3.8 billion of the $4 billion will be allocated under competitive
bidding, while $200,000 will be allocated under non-competitive bidding.
Interest paid on the instrument will be taxable at 25 per cent.
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