The Jamaican economy continued to contract into the second quarter, with the Planning Institute of Jamaica (PIOJ) reporting an even more dismal performance of the real sector in the April-June period when output in all sectors, with the exclusion of mining, lost value.
THE Bank of Jamaica (BOJ) yesterday lowered the interest rate on 30-day certificates of deposit (CDs) by another 50 basis points (bps) to eight per cent, making it the fifth time the central bank has lowered rates since the start of 2010.
The International Monetary Fund (IMF) has confirmed that Jamaica has passed the 2nd quarterly test. IMF officials who were in Jamaica for the past week and a half this morning faced the media and gave the country top marks for its efforts to meet the targets that have been set.
JACKSON HOLE, Wyoming — Federal Reserve Chairman Ben Bernanke said Friday that the Fed will consider making another large-scale purchase of securities if the slowing economy were to deteriorate significantly and signs of deflation were to flare.