The Bank of Jamaica held its policy rate at 5.75% during its December meeting, despite heightened inflation risks stemming from the severe economic impact of Hurricane Melissa. The central bank noted that damage to infrastructure is now estimated at more than 40% of GDP, while agricultural losses amount to roughly half of output, increasing the likelihood that food, electricity and other prices will rise faster and remain elevated for longer. These supply disruptions are expected to push inflation above the 4–6% target range in early 2026, with rebuilding activity also lifting core inflation through stronger demand and higher costs. Economic activity is projected to contract sharply in 2025/26 before recovering in 2026/27, supported by external financing, with the central bank remaining ready to adjust policy if needed. source: Bank of Jamaica

The benchmark interest rate in Jamaica was last recorded at 5.75 percent. Interest Rate in Jamaica averaged 10.29 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 February of 2026.

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
2025-09-29 09:30 PM Interest Rate Decision 5.75% 5.75% 5.5%
2025-11-24 09:30 PM Interest Rate Decision 5.75% 5.75% 5.75%
2025-12-18 09:30 PM Interest Rate Decision 5.75% 5.75% 5.5%
2026-02-23 09:30 PM Interest Rate Decision 5.75%
2026-03-31 09:30 PM Interest Rate Decision 5%
2026-05-20 09:30 PM Interest Rate Decision


Related Last Previous Unit Reference
Foreign Exchange Reserves 6279.30 6121.90 USD Million Dec 2025
Interest Rate 5.75 5.75 percent Dec 2025
Money Supply M1 567208.80 551837.70 JMD Million Nov 2025
Money Supply M2 1198774.90 1183702.00 JMD Million Nov 2025


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 Leaves Interest Rate Unchanged
The Bank of Jamaica held its policy rate at 5.75% during its December meeting, despite heightened inflation risks stemming from the severe economic impact of Hurricane Melissa. The central bank noted that damage to infrastructure is now estimated at more than 40% of GDP, while agricultural losses amount to roughly half of output, increasing the likelihood that food, electricity and other prices will rise faster and remain elevated for longer. These supply disruptions are expected to push inflation above the 4–6% target range in early 2026, with rebuilding activity also lifting core inflation through stronger demand and higher costs. Economic activity is projected to contract sharply in 2025/26 before recovering in 2026/27, supported by external financing, with the central bank remaining ready to adjust policy if needed.
2025-12-18
Jamaica Holds Policy Rate at 5.75%
The Bank of Jamaica’s Monetary Policy Committee decided to hold the policy rate at 5.75% during its November meetings, citing the immediate inflationary impact of Hurricane Melissa and the need to preserve macroeconomic stability. Headline inflation was 2.9% in October and the MPC projected that headline inflation will rise sharply and exceed the 4–6% target over the near term as hurricane-related supply disruptions push up food and other prices, while core inflation is expected to breach the target range by mid-2026. Economic activity is now expected to contract significantly over the near term because of extensive damage to infrastructure and disruption to productive activity and livelihoods, reversing earlier expectations of continued near-term expansion. The MPC noted that inflation risks are skewed to the upside, including higher domestic demand linked to reconstruction spending, stronger inflation expectations, and possible long-term damage to specific industries.
2025-11-24
Jamaica Holds Policy Rate at 5.75%
The Bank of Jamaica’s Monetary Policy Committee decided to hold the policy rate at 5.75% during its September meetings, citing low headline inflation and stable core inflation within the target range. Headline inflation was 1.2% in August, below the 4–6% target, due to temporary factors such as improved agricultural supply after Hurricane Beryl, lower public transport fares, and a reduction in the GCT on electricity, while core inflation remained at 4.2%. Economic growth continues, with the September quarter estimated at 3–4%, supported by a tight labor market and rising wages, indicating that low headline inflation is not demand-driven. The MPC noted that inflation risks are skewed to the upside, including potential higher imported inflation from tariffs and geopolitical tensions, though lower commodity prices could ease pressures. The MPC reaffirmed its commitment to maintaining low and stable inflation and will continue monitoring economic developments to adjust policy as needed.
2025-09-29