The central bank of Jamaica kept its policy rate unchanged at 5.50% at its June 2026 meeting, noting that although inflation has remained within its target range over the past three months, the outlook remains uncertain. The central bank said inflation risks from geopolitical tensions have eased but remain elevated, with headline inflation expected to temporarily exceed the upper limit of the target range. It added that keeping policy unchanged is appropriate to contain second-round effects from higher international commodity prices. Headline and core inflation both accelerated, with the former exceeding the Bank's latest projection. While talks to end the Middle East conflict continue, uncertainty remains high. The BoJ also noted that international commodity prices remain elevated and volatile, US financial conditions have tightened, and domestic demand is recovering, though growth risks remain tilted to the downside. source: Bank of Jamaica

The benchmark interest rate in Jamaica was last recorded at 5.50 percent. Interest Rate in Jamaica averaged 10.21 percent from 1996 until 2026, 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 July of 2026.

The benchmark interest rate in Jamaica was last recorded at 5.50 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 5.00 percent in 2027 and 4.75 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-03-31 09:30 PM Interest Rate Decision 5.5% 5.5% 5.5%
2026-05-20 09:30 PM Interest Rate Decision 5.5% 5.5% 5.5%
2026-06-29 09:30 PM Interest Rate Decision 5.5% 5.5% 5.5%
2026-08-19 09:30 PM Interest Rate Decision 5.5%
2026-09-28 09:30 PM Interest Rate Decision 5.5%
2026-11-18 09:30 PM Interest Rate Decision


Related Last Previous Unit Reference
Foreign Exchange Reserves 6483.60 6451.50 USD Million May 2026
Interest Rate 5.50 5.50 percent Jun 2026
Money Supply M1 608316.00 603398.10 JMD Million Apr 2026
Money Supply M2 1270723.80 1265083.10 JMD Million Apr 2026


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
5.50 5.50 33.00 0.50 1996 - 2026 percent Monthly

News Stream
Bank of Jamaica Keeps Key Interest Rate Unchanged
The central bank of Jamaica kept its policy rate unchanged at 5.50% at its June 2026 meeting, noting that although inflation has remained within its target range over the past three months, the outlook remains uncertain. The central bank said inflation risks from geopolitical tensions have eased but remain elevated, with headline inflation expected to temporarily exceed the upper limit of the target range. It added that keeping policy unchanged is appropriate to contain second-round effects from higher international commodity prices. Headline and core inflation both accelerated, with the former exceeding the Bank's latest projection. While talks to end the Middle East conflict continue, uncertainty remains high. The BoJ also noted that international commodity prices remain elevated and volatile, US financial conditions have tightened, and domestic demand is recovering, though growth risks remain tilted to the downside.
2026-06-29
Bank of Jamaica Holds Base Interest Rate in May
The Bank of Jamaica maintained its policy rate at 5.50% during its May meeting as the inflation outlook remained highly uncertain amid escalating tensions in the Middle East and rising international commodity prices, particularly crude oil. The central bank noted that higher fuel and transport costs are expected to push headline inflation above the 4–6% target range during the June and September 2026 quarters from 4.3% in April. While inflation is expected to gradually moderate as geopolitical tensions ease and global oil supplies normalize, risks remain tilted to the upside due to the possibility of a prolonged conflict, adverse weather conditions, stronger inflation expectations, and higher domestic spending linked to Hurricane Melissa recovery efforts. Meanwhile, economic growth for fiscal year 2026/27 is projected within a 1.0% to 3.0% range, although risks remain skewed to the downside due to the potential impact of the conflict on tourism and domestic activity.
2026-05-20
Jamaica Holds Policy Rate at 5.5%
The Bank of Jamaica maintained its policy rate at 5.50% during its March meeting as the inflation outlook became subject to a high degree of uncertainty stemming from the conflict in the Middle East. The central bank noted that while annual inflation remained at 3.9% in February sharp increases in international commodity prices and shipping costs are expected to drive headline and core inflation above the 4–6% target range during 2026. Although the magnitude of these impacts remains uncertain higher energy and transport costs alongside government tax measures pose significant upside risks to the projected path. While the post-hurricane recovery and fiscal spending continue to influence domestic prices the international reserves remain at high levels to provide a strong buffer and ensure market stability. Economic activity is projected to remain within the 1.0 to 3.0% range for the 2026/27 fiscal year despite downside risks to the tourism sector.
2026-03-31