The Bank of Jamaica (BOJ) reduced liquidity in the money market by over J$43 billion this week.

On Monday (July 21), the Central Bank offered a 14-day repurchase agreement (repo) valued at J$1 billion for a coupon rate of 6.00 per cent.

The bank received a total of four bids amounting to J$2 billion, doubling its target. The highest and lowest bids were the same, J$500 million, and successful bids attracted coupon rates between 6.00 per cent and 6.10 per cent.

On Tuesday, July 22, 2025, the BOJ returned to the market with a certificate of deposit (CD) offer valued at J$54 billion with a coupon rate of 6 per cent per annum. It offered $2.7 billion in non-competitive bids to public sector entities.

According to the results of the auction, the central bank received 302 bids amounting to $42.18 billion. The average coupon rate for total bids was 6.99 per cent.

For the highest bid, totalling J$50 million, the coupon rate was 8.99 per cent, while the lowest bid of J$13 million had a coupon rate of 5.30 per cent.

Effective Friday, when the offer is settled, the BOJ will have issued J$126.18 billion in certificates of deposit. The central bank will return to the market next Wednesday (July 30).