Market Talk Update – February 23, 2018

    JN Fund Managers
    JN Fund Managers

    Indicator

    Period Data Year/Year YTD Chg Mth/Mth
    Current

    Similar Period Last Year

    Inflation Rate Jan-18 0.00% 0.40% *4.8%    
    Three Month T-Bill Avg Yield Feb-18 3.35% 5.62% -227bps -82bps -63bps
    Six Month T-Bill Avg Yield Feb-18 3.59% 6.27% -268 bps -104ps -57bps
    Interest Rate on BOJ Overnight Rate (policy rate) Feb-18 2.75% ** 3.0%      
    Weighted Average Loan Rate Nov-17 14.63% 16.21% -157bps -157bps -7 bps
    Commercial Bank Loans (J$M) Sep-17 $620,449.26 $488,016.32 27.14% 25.24% 1.11%
    Current Account Deficit (US$M) July – Sept 2017 -$305.56 -$186.30      
    NIR (US$M) Jan-18 $3,203.36 $2,469.43 29.72% -0.15% -0.15%
    Remittance (Inflows US$M) Aug-17 $191.60 $194.10 -1.29% -13.81% -1.74%
    FX Rate J$ : US$1 16-Feb-18 $127.02 $128.11 -0.85% 1.62% 1.65%
    Junior Market Index 16-Feb-18 2,931.32 3,027.75 -3.18% 7.29% 7.87%
    Junior Market Capitalisation (J$B) 16-Feb-18 $123.20 $121.33 1.55% 7.32% 7.89%
    JSE Main Market Index 16-Feb-18 288,031.79 230,246.68 25.10% -0.12% 1.52%
    JSE Volume Traded YTD (B units) 31-Jan-18 0.14 0.24 -40.20%    
    JSE Main Market Capitalisation (J$B) 16-Feb-18 $1,048.77 $838.24 25.12% 0.00% 1.53%

    ** Previous BOJ Overnight Interest Rate (policy rate) as at January18, 2018  

    Jamaica’s inflation rate during the month of January 2018 recorded negligible or insignificant movements of 0.0% relative to 0.6% increase in the prior month. This was attributable to fluctuations recorded in the index for the heaviest weighted divisions ‘Food and Non- Acholic Beverage’, Transport’ and Housing, Water, Electricity, Gas and Other Fuels’. The Food and Non-Acholic Beverage division fell by 0.2% due to lower prices for starchy foods and vegetables locally. The Transport division also recorded a negative movement, on account of lower cost for air travel. However, this negative movement was moderated by increases in primarily ‘Water Supply and Miscellaneous Services Related to the Dwelling’, ‘Housing, Water, Electricity, Gas and Other Fuels’ and ‘Education’. As at January 2018, point-to-point inflation was 4.8% whilst fiscal year-to-date inflation it was 4.2%, which falls within the Bank of Jamaica’s projected range of 4.0% to 6.0% for the 2017/18 fiscal year.

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