Jamaica Interest Rate

Last Release

May 20, 2025

Actual

5.75

Units In

Frequency

Daily

Next Release

Jun 30, 2025

Time to Release

1 Months 8 Days 21 Hours

Highest	Lowest	Average	Date Range	Source
33 Sep 1996	0.5 Aug 2019	10.39 %	1996-2025	Bank of Jamaica

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.

Latest Updates

The Bank of Jamaica reduced its monetary policy rate by 25 bps to 5.75% in its May 2025 meeting, amid continued headline inflation tracking within the 4.0–6.0% target range. Annual headline inflation rose to 5.3% in April 2025, in line with April 2024’s outturn, while core inflation (excluding agricultural food products and fuel) held at 4.4%. The domestic economy showed modest improvement early in the year, with real GDP expanding by 0.2% quarter-on-quarter in Q1 2025 after a contraction in the prior quarter. Imported inflation remained contained, supported by stable exchange rates and lower global commodity prices. Inflation expectations and the foreign exchange market have been broadly stable. Looking ahead, headline inflation is projected to trend toward the lower half of the target range over the next two years, assuming moderate oil price declines and steady inflation expectations.