The Bank of Jamaica left its policy rate unchanged at 5.75% in August for the third consecutive meeting, citing low inflation and a stable foreign exchange market. Headline inflation in July stood at 3.3%, below the Bank’s 4–6% target range, while core inflation was 4.3%, supported by lower energy costs, improved agricultural supplies, and reduced electricity charges. The MPC expects inflation to remain below target over the coming months before gradually rising toward the center of the range. The domestic economy continues to show resilience, backed by strong remittances, increasing tourism arrivals, and historically high international reserves of US$6.1 billion. Real GDP growth for FY2025/26 is projected at 1–3%, driven by agriculture, mining, and tourism, before normalizing at 1–2% in subsequent years. The Committee reaffirmed its commitment to maintaining price and market stability and will adjust policy as needed amid ongoing global uncertainties. source: Bank of Jamaica

The benchmark interest rate in Jamaica was last recorded at 5.75 percent. Interest Rate in Jamaica averaged 10.35 percent from 1996 until 2025, reaching an all time high of 33.00 percent in October of 1996 and a record low of 0.50 percent in August of 2019. This page provides - Jamaica Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Jamaica Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on September of 2025.

The benchmark interest rate in Jamaica was last recorded at 5.75 percent. Interest Rate in Jamaica is expected to be 5.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Jamaica Interest Rate is projected to trend around 4.50 percent in 2026, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2025-05-20 09:30 PM Interest Rate Decision 5.75% 6% 6.0%
2025-06-30 09:30 PM Interest Rate Decision 5.75% 5.75% 5.75%
2025-08-20 09:30 PM Interest Rate Decision 5.75% 5.75% 5.75%
2025-09-29 09:30 PM Interest Rate Decision 5.75% 5.5%
2025-11-20 09:30 PM Interest Rate Decision
2025-12-19 09:30 PM Interest Rate Decision


Related Last Previous Unit Reference
Foreign Exchange Reserves 6113.70 5835.60 USD Million Jul 2025
Interest Rate 5.75 5.75 percent Aug 2025
Money Supply M1 531225.19 529269.97 JMD Million Jun 2025
Money Supply M2 1134365.27 1126950.79 JMD Million Jun 2025
Money Supply M3 1361710.32 1343981.52 JMD Million Dec 2024

Jamaica Interest Rate
In Jamaica, the Bank of Jamaica engages in open market operations by offering 30-day instruments. Since July 1st, 2017, the Bank changed the benchmark interest rate to the rate paid on overnight deposits held by deposit-taking institutions (“DTIs”) from the rate paid on 30-day certificates of deposit.
Actual Previous Highest Lowest Dates Unit Frequency
5.75 5.75 33.00 0.50 1996 - 2025 percent Monthly

News Stream
Jamaica Holds Policy Rate at 5.75%
The Bank of Jamaica left its policy rate unchanged at 5.75% in August for the third consecutive meeting, citing low inflation and a stable foreign exchange market. Headline inflation in July stood at 3.3%, below the Bank’s 4–6% target range, while core inflation was 4.3%, supported by lower energy costs, improved agricultural supplies, and reduced electricity charges. The MPC expects inflation to remain below target over the coming months before gradually rising toward the center of the range. The domestic economy continues to show resilience, backed by strong remittances, increasing tourism arrivals, and historically high international reserves of US$6.1 billion. Real GDP growth for FY2025/26 is projected at 1–3%, driven by agriculture, mining, and tourism, before normalizing at 1–2% in subsequent years. The Committee reaffirmed its commitment to maintaining price and market stability and will adjust policy as needed amid ongoing global uncertainties.
2025-08-20
Jamaica Leaves Interest Rate Unchanged
The Bank of Jamaica held its policy rate at 5.75% during its June meetings, stating the current stance remains appropriate to keep inflation within the 4.0–6.0% target range over the next two years. The decision comes amid global uncertainties, including shifting trade policies, geopolitical tensions, and interest rate movements in major economies. While risks to the inflation outlook are skewed to the upside, inflation has remained stable, with annual headline inflation at 5.2% in May 2025—unchanged from a year earlier—and core inflation at 4.6%. Declining international prices for grains, LNG, and oil have helped ease inflationary pressure, though geopolitical developments could reverse this trend. The BOJ reaffirmed its commitment to price stability and will continue to monitor data closely, ready to adjust policy as needed.
2025-06-30
Jamaica Cuts Interest Rate to 5.75%
The Bank of Jamaica reduced its monetary policy rate by 25 bps to 5.75% in its May 2025 meeting, amid continued headline inflation tracking within the 4.0–6.0% target range. Annual headline inflation rose to 5.3% in April 2025, in line with April 2024’s outturn, while core inflation (excluding agricultural food products and fuel) held at 4.4%. The domestic economy showed modest improvement early in the year, with real GDP expanding by 0.2% quarter-on-quarter in Q1 2025 after a contraction in the prior quarter. Imported inflation remained contained, supported by stable exchange rates and lower global commodity prices. Inflation expectations and the foreign exchange market have been broadly stable. Looking ahead, headline inflation is projected to trend toward the lower half of the target range over the next two years, assuming moderate oil price declines and steady inflation expectations.
2025-05-20