Whether Jamaican interest rates?

Interest rates on the last government of Jamaica Treasury bills averaged 8.27 percent on the 182 days instrument in November, the highest level since December 2012 at 9.12 percent.
The rate is well over the trend since 2013, which suggests it should be just over 3 percent on a longer term. In 2013, the rate did not remain at its peak for long and continued decreasing gradually. It rose again to 9.11 in March 2014 for a brief period and fell to 6.99 percent by January 2015 and moved gradually down to under two percent by 2018.
While the Bank of Jamaica has only recently pushed the Overnight rate to 7 percent the 182 days, Treasury bill rates were around 8 percent from April this year when the average was 8.46 percent and moderated slightly downwards since an indication that the market has determined that these rates are at or close to the peak. The decline in rates should start in the first half of 2023 and could adjust downwards gradually, as was the case in 2014.
The attached chart shows the trend-line slopping from the left side of the chart and reaching around two percent, with the current rates being well over trend, an indication that the recent hike since last year is not sustainable and could start to decline not too long from now with inflation rate now closer to 7 percent and falling.