The rate of increase in the prices of goods and services, also known as inflation, for the September quarter has fallen below two percent.
Governor of the Bank of Jamaica, Brian Wynter, made the revelation this morning at a media briefing at Nethersole Place.
Mr. Wynter was also upbeat about prospects for foreign direct inflows for the remainder of the fiscal year.
Meanwhile, the Central Bank Governor is hailing the IMF Executive Board’s approval of a Standby Agreement for Jamaica as a powerful signal to prospective investors.
The three-year precautionary SBA immediately replaces the Extended Fund Facility which was scheduled to come to an end next March.
Mr. Wynter says the approval from the IMF’s Executive Board formalizes the Fund’s support of the government’s economic programme.