The Bank of Jamaica has already removed $120 billion from circulation through certificates of deposit (CDs) to curb galloping inflation, and will seek to remove another $22 billion tomorrow. Of this, $20.9 billion will be offered via competitive bidding to private commercial and merchant banks, pension funds, insurance companies and securities dealers, while the remaining $1.1 billion goes to public sector agencies including the National Insurance Fund (NIF), the National Housing Trust (NHT) and the Jamaica Mortgage Bank. The minimum subscription is $100,000, and the instrument matures on November 20 of this year, with interest paid that day after the government deducts a 25% withholding tax.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on radiojamaicanewsonline.com ↗
Keywords
Open a keyword to see other news on the same topic.
Related tickers and likely impact
USD/JPY
▼ Likely negativeRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/20/2026 | 158.173 |
| Change that session | -0.23% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Japan shifting to wage-driven inflation phase, finance minister says
Finance Minister Satsuki Katayama said Japan's price rises are driven by higher import costs and that the economy is on the cusp of sustained wage-driven inflation. The government plans a two-year cut to the 8% consumption tax on food from April next year, along with payouts to ease households' living costs. Katayama said there is no gap between the government and the Bank of Japan, which raised rates to a 31-year high of 1.25% in September. Analysts warn the tax cut and big spending could boost demand and clash with the BOJ's efforts to curb inflation, though Katayama said fiscal policy will aim to raise supply capacity without accelerating inflation.
- BBH Says Swaps Put October BOJ Rate Hike Odds Below 5%
BBH expects Japan's annual consumer inflation to rise to 2.1% in September from 1.9% in August, with core inflation at 2.1% excluding fresh food and 2.3% excluding fresh food and energy. Interest rate swaps implied less than a 5% chance of a BOJ hike to 1.50% at the Oct. 30 meeting, compared with 80% for the Dec. 18 meeting. These figures reflect BBH's reading of market pricing, not a BOJ decision, and the BOJ's overnight call-rate target is about 1.25%, effective Sept. 24. The Statistics Bureau of Japan is scheduled to publish the national CPI on Oct. 23.
- Japan Government Bond Yields Ease After U . S . Tech Selloff
Japanese government bond yields eased on Monday morning as investors sought safety after losses in U.S. tech shares, with the 10-year yield at 2.9%, according to Reuters. The Nasdaq Composite fell 2.1% and the S&P 500 lost 1.1% in Friday's U.S. session; AP linked the selloff to concern that companies borrowing to expand AI may struggle to sustain spending as global bond yields rise. Prime Minister Sanae Takaichi told parliament the government would manage the total amount of bond issuance. The Bank of Japan raised its uncollateralized overnight call rate target to around 1.25% from around 1% on Sept. 18, and Governor Kazuo Ueda said underlying inflation was “quite close” to the 2% target. The BOJ's next policy meeting is scheduled for Oct. 29–30.
- BOJ chief says underlying inflation “quite close” to price goal
BOJ Governor Kazuo Ueda said underlying inflation is “quite close” to the 2% target, as strong global AI demand and a tight job market add price pressure, signalling room for further rate hikes. He stressed that raising rates at an appropriate pace would help avoid spikes in bond yields, while failing to adjust could push long-term rates higher. The BOJ's two-day meeting concludes on October 30, but after its September hike, many policymakers are cautious about another move this month. According to sources cited by Reuters, many market players expect rates to hold at 1.25%, with hints of a possible rise to 1.5% as early as December. JGB yields have risen as concerns grow that Prime Minister Sanae Takaichi's big spending plans could worsen Japan's already strained finances.
- Japan records a trade deficit as oil imports soar because of conflict in the Middle East
- Japan PM Sanae Takaichi first year : Military ambitions , market jitters and a gruelling work ethic
Related markets
Latest news
- SpaceX Jumps 8% on Q3 Revenue Beat as Musk Backs Tesla Merger Idea; Rocket Lab and AST SpaceMobile Edge Higher
SpaceX stock rose about 8% in morning trading to $159.94 after the company reported Q3 2026 results that beat analyst expectations, with revenue of $14.58 billion. On the earnings call, Elon Musk said SpaceX and Tesla have each formed special committees of independent directors to study a merger, while noting there is no agreement on terms and no guarantee of a deal. Musk said he thinks combining the companies would be a good idea, citing shared work in chip design, robotics and connectivity. The Procure Space ETF (UFO) rose 4% to $41.09, Rocket Lab gained 2% to $52.10 and AST SpaceMobile added 0.9% to $41.48, while the SPDR S&P 500 ETF Trust (SPY) was up 0.28% at $770.88.
- Protolabs Accelerates AI-Enabled Manufacturing with Amazon Quick
Protolabs (NYSE: PRLB) is rolling out Amazon Quick, an AI assistant that brings context, apps, systems and data into one place, across the enterprise. The initial focus is customer service, where AI-assisted workflows aim to reduce response times and streamline order and quote processing, with the phased rollout across its more than 2,200 employees continuing into 2027. The company created Forward-Deployed AI Engineer roles to identify use cases and design workflows. It also plans AI tools to flag ordering conflicts early, speed fulfillment across its manufacturing network, and eventually analyze more than 15 million CAD files for risk prediction and pricing.
- US Says Ukraine Would Not Exist Without Washington’s Backing
US Secretary of State Marco Rubio said Ukraine “would not exist” without US support, including under the Trump administration. Responding to a Wall Street Journal report that Elon Musk ordered Starlink slowed, a system Ukraine uses to counter Russian aerial attacks, Rubio said the US neither knew in advance nor directed it, and cannot control how a private company runs its product. He said negotiations are focused on the fate of Donbas and that “both sides will have to give up something.” President Zelensky said he discussed intelligence sharing and Starlink access with envoy Steve Witkoff, whose trip also aims to plan a three-way meeting between US, Ukrainian and Russian leaders.
- OpenAI expands Google Cloud access as AI rivals deepen ties
OpenAI is expanding its enterprise reach by making its latest models, including GPT-6 Astra, and its Codex coding agent available on Google Cloud, giving it distribution through all three major U.S. cloud providers. The models will appear in Google Cloud's Model Garden and Marketplace in the coming weeks, and businesses can buy them using existing Google Cloud spending commitments. The move follows OpenAI's broader access push after its exclusive Microsoft distribution deal ended in April, with Amazon Web Services already offering its models. Google Cloud's annualized revenue growth reached about 82% in the second quarter, up from 63% in the first, according to CNBC, while Anthropic generated 47% of its 2025 revenue through Amazon and Google cloud platforms, per its IPO filing.
- Apple vs. Broadcom: Which Tech Stock Is a Better Buy in 2026?
The article compares Apple (AAPL) and Broadcom (AVGO) as 2026 investments. Apple's fiscal 2025 revenue rose 6.4% to nearly $416.2 billion, with net income of about $112 billion and free cash flow near $98.8 billion, while Broadcom's revenue jumped 23.9% to about $63.9 billion, with net income near $23.1 billion and free cash flow near $26.9 billion. Broadcom's 36.2% net margin beats Apple's 26.9%, but its top five customers account for about 40% of revenue, a concentration risk. The author, a longtime Apple shareholder, sees Broadcom as more attractive on future earnings estimates and suggests holding Apple but not adding to it, given its roughly $5 trillion market cap. The piece also warns that stock-based compensation inflates Broadcom's reported cash generation.
- Market Re-Rating Aligns Microsoft Corporation’s (MSFT) Valuation with Core AI Fundamentals
The L1 Capital International Fund (unhedged) returned 3.5% net of fees in the September 2026 quarter, beating its benchmark's 1.5% gain, and held 22 investments, with the ten largest making up about 63% of assets. In its Q3 2026 investor letter, the fund highlighted Microsoft (MSFT), which contributed more than 0.5 percentage points to returns. The fund pointed to two drivers: Microsoft 365 Copilot, with paid seats reaching 30 million and net seat additions more than doubling quarter-on-quarter, and whether Azure can earn attractive returns on hundreds of billions of dollars of capital expenditure. Microsoft shares rose 38% in the September quarter, which the fund attributes mainly to a reversal of excessive investor pessimism rather than a change in fundamentals. As of October 20, 2026, the stock closed at $531.87, for a market cap of $3.95 trillion.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.