Monetary Policy

     Monetary policy can be labeled as changes in the money supply in order to achieve particular macroeconomic goals. Monetary decisions are widely controlled in Jamaica by its central bank known as the Bank of Jamaica. A recent article I found on the Bank of Jamaica's website(central bank) was reported on August 26th, 2010 and this was a decrease in rates payable. The details are: overnight placements at institutions will be reduced  from 0.50 per cent to a new rate payable amount of 0.25 per cent. From their statement, this was encouraged to strengthen stable prices and sustainable growth for the remaining of fiscal year 2010 to 2011.  This is also supposedly intended the strengthen the Jamaican dollar from inflation amounts in July. I think this new change is probably to discourage inflation.
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