The Bank of Jamaica (BOJ) says it will draw a further $36 billion from the financial system, through a 6% per annum fixed rate certificate of deposit auction on Wednesday.
Of the amount on offer, $34.2 billion will be allocated to private institutional and individual investors on a competitive basis, while $1.8 billion will be reserved for public sector institutions on a non-competitive basis.
The certificate of deposit will mature on January 16, 2026, at which time interest will be paid at the annual rate of 6%.
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