The Bank of Jamaica (BOJ) says it will be removing another $18 billion from circulation with its 6% per annum fixed rate certificate of deposit (CD) on Tuesday, in order to help contain inflation and to stabilise the dollar two days before Christmas.
Some $17.1 billion will be offered to private institutional investors and individuals on a competitive basis, while $900 million will be offered to public sector institutions on a non-competitive basis.
The instrument will be made directly available to primary dealers and commercial banks.
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