KINGSTON, Jamaica — The United States (US) Federal Reserve kept interest rates unchanged Wednesday, but projections released with the decision showing that nine policymakers favour higher rates this year could make Bank of Jamaica (BOJ) more cautious about another reduction.

The decision, announced Wednesday afternoon, maintained the Fed’s benchmark rate at 3.50 per cent to 3.75 per cent.

Nine of the Fed’s 19 policymakers projected a higher policy rate by the end of 2026. None had projected an increase when the forecasts were last published in March.