A survey conducted in May 2013 on behalf of Bank of Jamaica, soliciting the views of executives of the private sector showed that the business sector expects the 180-day T-bill rates to increase to 6.5 percent in the three months hence, up from the 5.4 per cent expressed in the previous survey. In the May 2013 auction, the actual interest rate for the 180-day Treasury bills increased to 6.44 per cent from 6.39 per cent in the April 2013 auction.
The majority of respondents expected that the Bank’s Open Market Operation (OMO) rate would remain the same over the next three months. This was similar to the views conveyed in the April and March 2013 surveys. The percentage of respondents that were of the view that the OMO rate would remain the same increased to 51.3 per cent from 43.0 per cent in the previous survey. The results from the overall survey about expectations for the OMO rate were largely corroborated by the views of respondents in the financial sector
The Statistical Institute of Jamaica (STATIN) undertakes surveys of businesses on behalf of the Bank of Jamaica to ascertain the expectations about variables which are likely to have an impact on inflation in the near-term. In this regard, the survey captures the perception of Chief Executive Officers, Managing Directors and Financial Controllers about the future movement of prices, current and future business conditions and the expected rate of increase in wages and salaries. These responses assist the Central Bank in charting future policy decisions.
