Description:

Bank of Jamaica, the central bank of Jamaica, was established in 1960 under the Bank of Jamaica Act. Following the Bank of Jamaica Amendment Act (2020,) the Bank has the independence to give effect to its objectives and carry out its functions.

Its principal objectives are to maintain price stability and financial system stability, with price stability as the primary objective. Bank of Jamaica’s functions include inter alia, formulating and implementing monetary policy, the implementation of prudential and macroprudential measures, issue and redeem currency, hold and manage the external reserves of Jamaica and foster and develop the money and capital markets in Jamaica.

In fulfilling its mandate, Bank of Jamaica’s vision is to be the world’s leading central bank, contributing to the sustainable development of Jamaica.