The central bank of Jamaica kept its key policy interest rate steady at 0.50 percent at its 19 February 2020 meeting, saying that the decision was based on the continued view that monetary conditions are generally appropriate to support inflation remaining within 4.0 per cent to 6.0 percent and a faster pace of economic growth. The Bank underscored robust lending activity and said that it will continue to closely monitor the trends in credit from banks, capital market transactions, overall economic activity and most importantly, inflation, to determine the future path for the policy rate.
Interest Rate in Jamaica averaged 11.63 percent from 1996 until 2020, reaching an all time high of 33 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. source: Bank of Jamaica
Interest Rate in Jamaica is expected to be 0.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Jamaica to stand at 0.75 in 12 months time. In the long-term, the Jamaica Interest Rate is projected to trend around 1.50 percent in 2021, according to our econometric models.