Bank of Jamaica Raises Policy Rate to 6% as Inflation Pressures Persist

Summary

Updated Sep 30, 2026

The Bank of Jamaica raised its policy interest rate by 50 basis points to 6.0%, effective September 29.Jamaica Observer +1
August inflation was 7.9%, above the target range for a third straight month, prompting the first rate increase since November 2022.Jamaica Gleaner +2
The BOJ may hold at 6.0% if inflation pressures and business expectations do not worsen.Jamaica Observer
Further rate increases remain possible if oil prices, weather shocks or inflation expectations rise.Jamaica Observer +1

Automatically summarised from the coverage below.

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Coverage

Sep 30, 2026

BOJ could hold rates if inflation expectations settle

Bank of Jamaica Governor Brian Langrin said the central bank will hold its policy rate at 6.0% if inflation pressures and business expectations do not worsen, but warned another hike remains possible if oil prices, weather shocks or inflation expectations rise. The 50-basis-point increase, the first since November 2022, aims to stop higher food and fuel costs from becoming entrenched, with inflation at 7.9% in August.

Sep 29, 2026

BOJ increases policy rate to 6% to contain inflation

The Bank of Jamaica has raised its policy interest rate by 50 basis points to 6.0 per cent, effective September 29, to curb rising inflation pressures. The central bank said global tensions, high commodity prices, tighter financial conditions and weak crop yields could keep prices elevated and risk making inflation harder to bring back to target.

Sep 29, 2026

More rate hikes possible, economist warns after BOJ move

The Bank of Jamaica raised its policy rate by 0.5 percentage points to 6.0% as inflation climbed to 7.9% in August, above its target range for a third straight month. Economist Keenan Falconer said more rate hikes are possible if food, fuel, and other price pressures persist, affecting borrowing costs and the Jamaican economy.

Sep 28, 2026

BOJ raises policy rate to 6% to counter war and weather risks

The Bank of Jamaica raised its policy interest rate by 50 basis points to 6.0% to help curb inflation, which rose to 7.9% in August and has stayed above target for three months. The central bank cited drought, higher commodity prices and global tensions in the Middle East and Ukraine as factors keeping price pressures elevated.