Jamaica Interest Rate  1996-2018 | Data | Chart | Calendar | Forecast

The Central Bank of Jamaica lowered its benchmark interest rate by 25 bps to 2.5 percent at its May 17th of 2018 meeting. Policymakers said the current policy stance is in line with inflation expectations: inflation over the next three quarters is seen falling slightly below the lower limit of the 4-6 percent target, before increasing towards the centre of the target in the following quarter. The outlook for inflation mainly reflects the impact of lower agricultural food cost while upside risks include higher oil prices and adverse weather. In April 2018, the inflation rate fell further to 3.2 percent from 3.9 percent in March. Finally, economic growth is seen accelerating modestly. Interest Rate in Jamaica averaged 12.38 percent from 1996 until 2018, reaching an all time high of 33 percent in October of 1996 and a record low of 2.50 percent in May of 2018.

Jamaica Interest Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-04-03 07:30 PM Interest Rate Decision 2.75% 2.75% 2.75%
2018-05-17 11:00 PM Interest Rate Decision 2.50% 2.75% 2.75%
2018-06-27 09:00 PM Interest Rate Decision 2.50% 2.5%
2018-08-28 09:00 PM Interest Rate Decision 2.5%
2018-10-02 09:00 PM Interest Rate Decision 2.5%

Jamaica Money Last Previous Highest Lowest Unit
Interest Rate 2.50 2.75 33.00 2.50 percent [+]
Deposit Interest Rate 4.51 4.90 36.41 3.53 percent [+]
Foreign Exchange Reserves 3411.78 3383.10 3971.17 0.00 USD Million [+]

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. This page provides - Jamaica Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Jamaica Interest Rate - actual data, historical chart and calendar of releases - was last updated on May of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
2.50 2.75 33.00 2.50 1996 - 2018 percent Daily

interest rate by Country
Country Last
Turkey 8.00 May/18
Mexico 7.50 May/18
Russia 7.25 Apr/18
Brazil 6.50 May/18
India 6.00 Apr/18
Indonesia 4.50 May/18
China 4.35 Apr/18
United States 1.75 May/18
Australia 1.50 May/18
South Korea 1.50 May/18
Canada 1.25 Apr/18
United Kingdom 0.50 May/18
Euro Area 0.00 Apr/18
France 0.00 Apr/18
Germany 0.00 Apr/18
Italy 0.00 Apr/18
Netherlands 0.00 Apr/18
Spain 0.00 Apr/18
Japan -0.10 Apr/18
Switzerland -0.75 Apr/18