Rates on Bank of Jamaica certificate of deposits (CDs) closed higher to end at an average of 10.02 percent in Wednesday’s public auction of $37 billion.
The highest rate cleared at 10.325 percent which was only partially filled with 334 successful bids out of a total of 373 covering $444.283 billion that the central bank received for the auction.
Today’s average rate was slightly above the 9.98 percent in last week’s auction. This week’s auction will result in the total amount of 30 days CD’s that the Bank of Jamaica holds falling to $125.5 billion from $128.5 billion in the previous week.
