The Bank of Jamaica says it will be issuing another 6 per cent certificate of deposit on Wednesday in an effort to mop up $33 billion from circulation.
Of that amount, $31.35 billion will be available to private financial institutions at a competitive basis, while $1.65 billion will be allocated to public sector entities including the Jamaica Mortgage Bank, National Housing Trust and the National Insurance Fund.
The bids will be settled on September 12 and the certificate will mature in October 10 next year.
Interest will be taxed at a rate of 25 per cent.
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