In view of the weakening outlook and the downside risks to growth, the Federal Open Market Committee (FOMC) has maintained a relatively low target for the federal funds rate despite an increase in inflationary pressures.
Leah Sahely and Tracy Polius have recently published a multivariate analysis of banking soundness in the ECCU; while Sahely at the ECCU developed a sophisticated and userfriendly template for stress testing. The financial stability department of the Bank of Jamaica, under the entrepreneurial leadership of Dr. Brian Langrin, has produced an impressive stream of technical studies in the area of macroprudential analysis.