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BOJ softens tone on future hikes after new 7% rate decision

Nov 20th, 2022 | Category: BUSINESS | 10:37
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#JamaicaGleaner #Jamaica #Business #BOJ #BankOfJamaica #CentralBank #Money #Inflation #Loan #Deposit #Bank NOVEMBER 20, 2022: Lending rates are expected to continue on an upward trajectory as the central bank on Friday, November 18, tacked on another half a point to its policy rate that influences interest rates in the banking system, where loan rates have tended to respond to policy actions more quickly and by larger margins than the rate paid on deposits. The rate, which is equivalent to the interest paid by Bank of Jamaica (BOJ) for deposit-taking or banking institutions to ark funds at the central bank overnight, is now at 7.0 per cent, effective Monday, November 21, up 50 basis points from 6.5 per cent. Interest-rate decisions are made by

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