BOJ holds policy rate at 5.50% amid global uncertainty

Bank of Jamaica (BOJ) has maintained its policy rate at 5.50 per cent, citing heightened global uncertainty driven largely by the conflict in the Middle East as the primary reason for holding steady. “The elevated level of uncertainty stems largely from the conflict in the Middle East, which has led to significant increases in key international commodity prices, particularly energy-related prices,” stated the BOJ in its statement.

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