Bank of Jamaica, BOJ Governor Richard Byles says the policy rate has been reduced from 6, to 5.75 percent.

He made the statement at yesterday’s quarterly press conference.

The governor’s statement also comes in light of trade tensions on the global stage. 

However, Governor Byles said he expects that the trade tariffs imposed by the United States on other trade partners will be materially lowered following deliberations.

He said the rationale for the reduction is because Jamaica’s economy is expected to remain stable.