BOJ: Unlikely That Drought Will Impact Inflation Projections

The Bank of Jamaica is reassuring that the positive outlook for inflation this calendar year announced in its latest media briefing will not be changed due to drought conditions impacting sections of the country.

The reality of drought conditions in sections of the country has not gone unnoticed by the relatively optimistic heads of the Central Bank. Speaking at the bank of Jamaica’s first quarterly monetary policy media briefing Tuesday, Deputy Governor Robert Stennett notes the resilience of the agriculture sector despite the harsh dryness plaguing the nation.

A suggestion that inflation projections should remain on track this year unless worse comes. The Deputy Governor explains that the bank’s projections are typically weatherproof factoring in fluctuations in agricultural prices. Watch the report:

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