The Bank of Jamaica has left its policy rate unchanged at 5.75 per cent, saying unusually low headline inflation reflects temporary factors that should fade by early 2026.

The Bank of Jamaica has lowered its policy rate by 25 basis points to 6.00 per cent, its fourth cut of 2024, and said commercial lending rates remain high and restrictive.

Jamaica’s construction sector confronts its worst cost crisis in decades as Ukraine war commodity shocks combine with BOJ rate hikes now approaching 5 per cent.

NHT reform passes Parliament in February 2022 as Russia invades Ukraine in the final days, signalling a potential commodity cost shock for Jamaica’s construction sector.

Jamaica opens 2022 with inflation at multi-year highs, BOJ tightening underway and construction costs climbing — testing property market resilience across all segments.

Jamaica’s property market closes 2021 with resilience intact, but rate hikes, rising build costs and supply shortages loom large over the new year ahead.

The Bank of Jamaica raised rates for the first time in 13 years in October 2021, sending signals to a buoyant housing market still powered by COVID-era demand.

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