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Bark Di Trute, the blog for Jamaicans at home and abroad. Bark Di Trute welcomes your financial support and materials submitted for publication. Please add your comments to the blogs. Comments that are libellous, abusive, or nonsensical will be deleted. This blog is about sharing information, helping others, and lobbying for a better life for us all.
Tuesday, 24 February 2026
BOJ Cuts Policy Rate
JIS Press Release February 24, 2026
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| BOJ Governor Richard Byles |
The Bank of Jamaica (BOJ) Monetary Policy Committee (MPC) has unanimously agreed to lower the policy rate on overnight placements by deposit-taking institutions by 25 basis points, bringing it to 5.5 per cent per annum.
Speaking during the Quarterly Monetary Policy Report press conference at the BOJ auditorium in downtown Kingston on Tuesday (February 24), Governor Richard Byles, said the decision to reduce the policy rate reflects a “cautious adjustment “to the monetary policy stance.
“[This] followed a detailed assessment of the most recent inflation out-turn and the near-term outlook for prices,” he explained.
The Central Bank Governor emphasised that BOJ is always guided by evidence and is prepared to adjust its policy decisions based on careful consideration of both established and emerging trends.
“Looking more closely at the recent inflation print on the 16th of February, the Statistical Institute of Jamaica (STATIN) reported that headline inflation at January 2026 was 3.9 per cent, down from 4.5 per cent at December 2025. This out-turn was below the Bank’s most recent projection and just under the lower limit of the Bank’s [four to six per cent] target range,” he said.
Mr. Byles explained that the decline in inflation compared with December 2025 largely reflected lower food prices, driven by improved farm produce supply following Hurricane Melissa in October 2025.
He noted that core inflation – excluding agricultural food and fuel from the consumer price index – also fell to 3.9 per cent in January 2026, down from 4.2 per cent in December 2025.
“So, for the three months after the hurricane, STATIN recorded inflation rates within or just slightly below the lower limit of the Bank’s target range. Since August of 2024, there have been 17 consecutive months of inflation within or below the target range,” Mr. Byles said.
Meanwhile, the Governor advised that developments in the foreign exchange market have also contributed to easing price pressures in the economy.
In response to Hurricane Melissa, the Bank deployed special measures to stabilise the exchange rate as part of its broader strategy to manage inflation after the shock.
Mr. Byles shared that since the hurricane’s passage, the Bank has sold approximately US$365 million into the market between November 1, 2025 and January 31, 2026.
During the same period, BOJ also sold US$87 million to Stat refinery, Petrojam, bringing cumulative sales to US$452 million.
The BOJ made net purchases of approximately US$152 million during the period November 1, 2025 to January 31, 2026, following the hurricane.
“The Bank has, therefore, delivered on that promise of foreign currency price stability. The exchange rate has appreciated since November 2025, supported by strong foreign currency inflows, reflecting improved remittances as well as the Bank’s use of its healthy reserves to augment flows in the market and the other special measures that we announced since November,” Mr. Byles said.
Cumulatively, the Bank sold US$1.1 billion via its BOJ-Foreign Exchange Intervention and Trading Tool (B-FXITT) facility in the 12 months ending January 2026, consistent with the US$1.1 billion sold in the 12 months ending January 2025.
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Westmoreland Benefits - Over 2 Billion Paid Out For Mellisa Roof Programme So Far
Ministry of Labour and Social Security Press Release - Feb. 19, 2026
Westmoreland, Jamaica – The Ministry of Labour and Social Security has disbursed more than $2 billion to Jamaicans affected by Hurricane Melissa, with over 2,000 Westmoreland residents receiving $787.5 million in the latest round of payments under the Restoration of Owner or Occupant Family Shelter (ROOFS) Programme.
During Thursday's Grant Handover Ceremony in Savanna-la-Mar, Minister Pearnel Charles Jr. outlined the allocations: 827 households with severe damage will receive $500,000 each ($413.5 million), 1,844 households with major damage will get $200,000 each ($368.8 million), and 70 households with minor damage received prepaid cards worth $75,000 each ($5.25 million).
The assistance is structured across three damage categories : Minor, Major, and Severe, to ensure equity and responsiveness to the level of loss experienced by each household.
Minister Charles in closing reaffirmed the Government’s commitment to ensuring that support reaches families in a timely and transparent manner.
This second batch of payments follows the Government’s initial handover ceremony in St. Elizabeth on January 30 and underscores the Ministry’s continued commitment to restoring safe, secure housing and accelerating recovery for families affected by Hurricane Melissa.
The Westmoreland handover is part of the Ministry's parish-by-parish rollout, which continues next week in Hanover, St. James, Trelawny, and St. Ann.
Editor's note:
A few people have asked about how the Hurricane Melissa money was being used. I am happy to see that hurricane victims are benefiting.
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These Low Class MPs Need To Step Aside.
What the hell is happening? An MP has been reported to the police for assaulting another citizen? So what is the name of the MP? Why is this a top secret? A few MPs have been displaying what I will call bhutoo behaviour. These people should not be leading decent people. A few weeks ago, there was this nasty story of a councillor making some terrible accusations against an MP. The level of the accusations on daytime radio should be something for nighttime radio.
Let us watch this news video. This was shown on a TVJ newscast.
Add your comments to the blog if you have further information. Do not post libellous content.
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You can view the blog with your computer at https://vderby.blogspot.com, and you will be able to see the various links. For example, there is a link that takes you to the calendar to see what is happening on the weekend. You can even search the site for articles. There is also a weather link, which you can use to track hurricanes.
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Monday, 23 February 2026
Both Sides of the Cuban coin
Contributed by Mark Wignall
“Since I migrated to the USA, to Miami, I have made many friends with Cubans and spent a lot of time with them. Mark, horror stories exist. Castro and his regime have been quite evil to many of those Cubans. Taking their businesses, assets, and homes, oppressing them, and exiling them. Castro and his successors have killed, maimed, detained, jailed, exiled, and oppressed the population of Cuba. They have no respect for human rights or those who disagree with them.
“Mark, maybe you genuinely don't know this. Even before this recent situation, the present Cuban ruling class live in large, opulent homes in gated communities with all the electricity they need and all the food they need, while most Cubans live with little or no electricity, food rations, are hungry and live in poverty.
“I do not like Trump’s aggressive regime change moves, but the Cuban regime is awful, and Fidel made his bed and that of his people when, in 1962, he wanted to let the Russians put missiles in Cuba, a mere ninety miles away from the US mainland, and doing Russia’s bidding for many years while Russia propped up Cuba.
“The people of Cuba deserve a better, more humane, decent government. I am mindful that Cuba has been a good neighbour to Jamaica. But Cuba is no paradise for Jamaica to emulate.”
A regular reader of my column shares a view of Cuba that is widespread in Jamaica. He is a retired police officer.
“Cuba sent troops to Southern Africa during the 1970-1980s to help liberate Angola, Mozambique, Zimbabwe, and South Africa from the satanic apartheid regime. Cuba lost men to the enemy. But the racists, recognizing that it would be a losing battle, stepped back, retreated, and gave the Africans their freedom.
“Today Cuba is under a different form of apartheid. To date, I have not heard one African country protest at the effort by the head thug in the White House to starve Cuba into submission. For what purpose? Submissions to the whims and fancies of the latest version of the Monroe Doctrine? African countries are apparently scared of Trump and his tariffs, and so they have also remained largely silent.
“The useless United Nations is also silent as the effort to starve Cuba into submission is being reinforced by the fuel blockade. The irony of all that's taking place is that it's being orchestrated by the Founder and Life Chairman of the so-called 'Board of Peace'.”
Journalist Ben Brodie writes, “The question is, what adjustments have been made to Jamaica’s long-standing arrangements with Cuba? What was the outcome of that high-level meeting between US officials and Holness, Audrey Marks and Rocky Meade?”
A part of the GOJ’s website states, ‘The situation highlights a delicate balancing act for the Holness administration, which seeks to maintain vital social services through Cuban cooperation while navigating foreign policy pressures from the United States.’ Diplomatic talk.
Broadly, it must be borne in mind that Trump uses cruelty and has made it guide his overall policy platforms. Add to that the fact that he derives extreme pleasure in seeing other people and nations in pain.
Editor's note:
Mark Wignall is a broadcaster and a columnist.
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Police Returns JAD220,000 - Businessman in Shock
We hear several bad things about the police, and Jamaicans rarely find the time to highlight the good work of the police. Today I got a message from businessman Robert Simpson, CEO of Top Rock Sports, about a police officer. This is the story:
On Friday, February 20, 2026, I lost my wallet with JMD 220,000.00, my driver's license and bank cards in Spanish Town. On Sunday, February 22, 2026, Mr Oshayne Meggoe, who is a police officer at the training school, came to my address with my wallet. To my surprise, all the money, my driver's license and bank cards were returned with the wallet. He came to my house on Saturday at 7:00 am, but everyone was sleeping, and he had to go to work. I would like to express my gratitude to Mr Meggoe for his honesty.
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| Workstation on fire! |
Fire destroyed Mr Simpson's workstation on Ash Wednesday, which is used for printing his T-shirts. The return of his funds and other items, therefore, brought joy to his heart.
Sergeant Meggoe is a past student of Spanish Town High School, and he has been in the Jamaica Constabulary Force for thirteen years.
I encourage my Bark Di Trute supporters and others to add your comments commending this good cop. This is one way for us to ensure that good people are in front, ready to do good and to assist others.
Click the icon below to listen to Sergeant Meggoe.
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