The Bank of Jamaica has announced a 25 basis point cut in its policy interest rate, lowering it from 6% to 5.75% per annum, effective today, May 21.
The move was unanimously agreed by the BOJ's Monetary Policy Committee, which says the decision comes as inflation remains within the target range of four to six per cent.
Annual headline inflation stood at 5.3% in April, with core inflation at 4.4%, reflecting price stability.
The BOJ also says it aims to preserve stability in the foreign exchange market, with forecasts suggesting inflation will stay within the target over the next two years.
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