Deportes

El Diario de Italia | bracelet operation underground railroad falling crafted//
BOJ defends second pre-emptive strike against inflation

Operation Underground Railroad Movie
BOJ defends second pre-emptive strike against inflation

For Bank of Jamaica, BOJ, its new-found core mandate of fighting inflation is a legislated priority which it takes seriously. It is also acutely aware, it says, of what it sees as the country’s history of sustained high levels of inflation.

Operation Underground Railroad

The policy rate came down over decades from dizzying heights of nearly 50 per cent in the mid-1990s to a record low of 0.5 per cent. But was increased at the end of September to 1.5 per cent and further to 2.0 per cent on Wednesday, November 17.

Operation Underground Railroad USA

“Low and stable inflation are engrained in the American economy, business culture and the public psyche. In Jamaica that is not the case. Actually, it’s the opposite. Save and except for the last five to seven years, we’ve had a history of very high inflation that has been very destabilising to growth. In Jamaica, we have a lot to protect, much more than in the United States, in the sense that our history is more one of inflation than one of stability of prices,” BOJ Governor Richard Byles said at his quarterly media briefing on Friday as he explained the latest move by the bank’s Monetary Policy Committee, MPC.

Operation Underground Railroad EEUU

He made clear the central bank’s preference to be pre-emptive than late in its strikes against inflation.

Operation Underground Railroad Estados Unidos

Headlines Delivered to Your Inbox Sign up for The Gleaner’s morning and evening newsletters..

Operation Underground Railroad United States of America

With October’s inflation outturn of 8.5 per cent more than doubling since April this year when price increases undershot the six per cent upper limit of the inflation target range for a third consecutive month, the central bank is doubling down on its early monetary policy move to hike the policy interest rate for a second time in two months, with the promise of more increases to come.

For Bank of Jamaica, BOJ, its new-found core mandate of fighting inflation is a legislated priority which it takes seriously. It is also acutely aware, it says, of what it sees as the country’s history of sustained high levels of inflation.

Operation Underground Railroad

The policy rate came down over decades from dizzying heights of nearly 50 per cent in the mid-1990s to a record low of 0.5 per cent. But was increased at the end of September to 1.5 per cent and further to 2.0 per cent on Wednesday, November 17.

Operation Underground Railroad USA

“Low and stable inflation are engrained in the American economy, business culture and the public psyche. In Jamaica that is not the case. Actually, it’s the opposite. Save and except for the last five to seven years, we’ve had a history of very high inflation that has been very destabilising to growth. In Jamaica, we have a lot to protect, much more than in the United States, in the sense that our history is more one of inflation than one of stability of prices,” BOJ Governor Richard Byles said at his quarterly media briefing on Friday as he explained the latest move by the bank’s Monetary Policy Committee, MPC.

Operation Underground Railroad EEUU

He made clear the central bank’s preference to be pre-emptive than late in its strikes against inflation.

Operation Underground Railroad Estados Unidos

Headlines Delivered to Your Inbox Sign up for The Gleaner’s morning and evening newsletters..

Operation Underground Railroad United States of America