Fresh from hiking their overnight policy rate by 0.50 percent to 2 percent, Bank of Jamaica latest CD offer produced an average yield of 4.34 percent, with the lowest bid coming in at 4 percent.
BOJ offered to sell $9.5 billion of CDs and attracted twice that amount at $18.24 billion. The highest rate payable by the central bank is 4.475 percent, with only 44 percent of the amount of the bid being successful.
The previous CD auction held on November 9 attracted $17 billion for the $12 billion offered and resulted in an average yield of 4.22 percent, with the highest successful bidder getting 91 percent of the amount they placed in the auction with an interest rate of 4.65 percent.
BOJ CD rates holding steady
November 18, 2021 by
