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Jamaica: BOJ says economy starting to show signs of improvement

Bank of Jamaica (BOJ) Governor, Richard Byles, says the country is beginning to show signs of incremental improvement in economic activity.

He cited the relatively buoyant foreign exchange market inflows, adequate reserves, a sustainable balance of payments position, and the containment of inflation within the bank’s four to six per cent target range, as evidence of the progress being made.

He said that based on the latest development, “we believe the contraction in the economy is past its worst, and the outlook is for continued, albeit more gradual improvements in economic activity”.

Byles was addressing the BOJ’s quarterly digital briefing on Friday (February 19).

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