The central bank of Jamaica kept the benchmark interest rate steady at 0.50 percent at its 18 August 2020 meeting. Policymakers noted that inflation conditions are generally appropriate to support inflation remaining within the target of 4.0 percent to 6.0 percent over the next eight quarters, although they now expect inflation to average 4.6 percent in the period, compared to the previous 4.4 percent forecast. Inflation jumped to 6.8 percent in June from 5.2 percent in the previous month.
Interest Rate in Jamaica averaged 11.45 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. Jamaica Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on September of 2020. 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 0.50 in 12 months time. In the long-term, the Jamaica Interest Rate is projected to trend around 0.50 percent in 2021 and 1.00 percent in 2022, according to our econometric models.