Jamaica’s central bank maintained its key interest rate at 7.0% for the tenth consecutive time. Despite a moderation in headline and core inflation in February, rates exceeded the target range of 5% +/- 1%. The high inflation was linked to public transport fare adjustments and wage hikes. Declines in agricultural commodity prices and shipping costs, a stable FX rate, are expected to reduce inflation, though it’s anticipated to remain above target due to another public transportation fare adjustment.