Rates dropped on the latest Bank of Jamaica Certificate of Deposit offer of $33 billion, resulting in an average yield for successfully allocated bids of 8.84 percent, down from 9 percent last week.
The country’s central bank received 454 bids amounting to $65.9 billion of which 224 were successful.
The auction, will result in $121 billion in outstanding short term CDs, down from $124 billion last week. In late March the total short term CD was just under $160 billion. The reduction in the amounts taken from the market represents a meaningful increased in liquidity when interest that was paid on the CDs is factored in.
BOJ CD rates drop below 9%
August 14, 2024 by
