Jamaica’s central bank held its benchmark interest rate at 7%, marking the thirteenth consecutive hold. Inflation decreased to 5.2% in May 2024, staying within the target range for the third month, prompting the MPC to plan a gradual easing of monetary policy, starting with a reduction in liquidity absorption from financial institutions. The Jamaican economy is estimated to have grown between 1.5% and 2.5% in Q1 2024.