Tag: boj

Jamaica

BOJ Now An Independent Entity

Photo credit: Anatoly Terentiev With the announcement of the new Board of the Bank of Jamaica, the Central Bank became an independent body. This means the Finance Minister will no longer has the power to issue directions on the monetary policy of the country. Members of the Board now includes Central Bank Governor Richard Byles, who will serve as the Chairman, […]

Jamaica

Remittances To Jamaica Show Growing Increase

The Bank of Jamaica (BOJ) reported that inflows from remittances for November was US$220.9 million – a 25.7 percent or US$45.2 million increase versus November 2019. The Central Bank noted that there was an increase in gross remittance inflows of 18.7 percent or US$37.5 million which coincided with a decrease of 32 percent or US$7.7 million in outflows.The U.S. represents the largest […]

Jamaica

BOJ Sees Increase In Credit By Deposit-Taking Institutions

The Bank of Jamaica (BOJ) is reporting a dramatic increase in credit extended by deposit-taking institutions to businesses and households for the 12-month period, ending December 2019. BOJ Governor Richard Byles said credit to businesses grew by 20.3 percent, while the provision to households increased by 16.5 percent. He was addressing the BOJ quarterly media briefing recently. Pollyanna Davy, Readers […]

Jamaica

BOJ Governor Says Jamaica’s Economic Outlook Remains Positive

Bank of Jamaica (BOJ) Governor, Richard Byles, says prospects for Jamaica’s economy remain positive. The governor posited the view at a Central Bank’s quarterly briefing recently. He noted that the economic outlook remains positive, despite “headwinds” and “clouds of uncertainty” arising from the global economy. “Domestic economic activity continues to show signs of recovery, although at a slower pace than […]