BOJ warns of choppy days ahead despite inflation reduction
Bank of Jamaica Governor, Richard Byles, while welcoming the significant reduction in Jamaica’s point-to-point inflation rate, is warning that there are still choppy waters ahead.
The BOJ Governor credits the almost 50 per cent fall in inflation over the course of the last year to the work of the Central Bank.
Point to Point inflation stands at 6-point-2 per cent as of the end of March, the lowest rate in nearly 20 months.
It’s just point-two percentage points shy of the BOJ’s target range of 6 to 4 per cent.
However, Mr. Byles says there’s a good chance that this figure will fluctuate in the coming months before settling within the target band at the close of the year.