hile the Bank of Jamaica’s (BOJ) fight against inflation has yielded solid returns, the stability in the foreign exchange (FX) market and subsequent appreciation of the Jamaican dollar (JMD) against the greenback in 2022 has resulted in numerous listed companies mentioning FX losses in their latest financial reports.
Point-to-point inflation moderated to 8.1 per cent in January 2023, which represents a trend towards the BOJ’s upper inflationary target of 6.0 per cent. This was supported by the BOJ increasing its policy rate from 2.50 per cent to 7.00 per cent over the last year and using other tools from its monetary policy toolkit to assist in maintaining financial stability.