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Consultative Paper re: Proposals for Enhancement of the Legislative Framework for the Deposit-Taking Sector
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Economic Indicators
| Outturn for FY2011/2012 | Projections for FY2012/2013 | |
|---|---|---|
| Inflation (%) | 7.3 | 7.5-9.5 |
| NIR (US$MN) | 1777.2 | |
| Base Money Growth (%) | 6.1 | 8.0 |
| GDP-12mth change(%) | 0.9 | -1.0 to 0.0 |
Foreign Exchange
| 24 May 13 | BUY | SELL | ||
|---|---|---|---|---|
USD : | $ 98.6048 | $ 99.1207 | ||
CAD : | $ 94.2721 | $ 96.8056 | ||
GBP : | $ 148.6854 | $ 150.0762 | ||
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The Bank of Jamaica, established by the Bank of Jamaica Law (1960), began operations in May 1961, terminating the Currency Board System which had been in existence from 1939.
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The Central Bank stands at the center of the local financial system and is charged with the responsibility to promote and maintain financial system stability. To achieve this objective, the Bank supervises the activities of deposit-taking entities. In addition, the Bank seeks to promote the development of the local financial markets, and regulates and supports the major clearing and settlement systems.
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