Bank of Jamaica (BOJ) Governor, Richard Byles, is assuring that the country’s financial system remains safe, sound, adequately capitalized, and liquid. He gave this assurance while speaking during the Central Bank’s recent quarterly monetary policy media briefing at the BOJ Auditorium in downtown Kingston. Mr. Byles’ comment comes against the background of the BOJ’s mandate of ensuring and preserving Jamaica’s […]
Jamaica’s economy is estimated to have grown in the range of four to 5.5 per cent for fiscal year 2022/23. This out-turn, according to Bank of Jamaica (BOJ) Governor, Richard Byles, is consistent with the range previously anticipated by the institution. He was addressing journalists during the BOJ’s semi-virtual media briefing on Monday (May 22). Mr. Byles, who noted that […]
The Bank of Jamaica (BOJ) says the country has adequate gross and net international reserves to finance its obligations, cushion against exogenous shocks, and address near to medium-term eventualities. Addressing the BOJ’s digital quarterly media briefing recently, Senior Deputy Governor, Dr. Wayne Robinson, reported that the gross reserves total US$4.3 billion, representing 129 percent of the level deemed sufficient in […]
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, […]
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 […]
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 […]
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 […]
