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During the year we passed the Bank of Jamaica Amendment Act that paves the way for the modernization of our central bank.
This legislation benefited from, and was strengthened by, the deliberations of a Joint Select Committee of both Houses of Parliament consisting of Government members and Opposition members.
Some highlights of the Act:
Full-fledged inflation targeting will be the clear mandate of the central bank. Given our torturous history of high, runaway inflation, we have empowered a well-resourced institution to keep inflation low, stable, and predictable.
Full-fledged inflation targeting will be the clear mandate of the central bank. Given our torturous history of high, runaway inflation, we have empowered a well-resourced institution to keep inflation low, stable, and predictable.
