March 26, 2020 Ladies and gentlemen, good morning. Bank of Jamaica today announces its decision to maintain its highly accommodative monetary policy stance by holding the policy rate unchanged at 0.50 per cent per annum. The policy rate is the rate offered to deposit taking institutions on overnight placements with Bank of Jamaica.
United States: U.S. Jobless Claims Surged to Record 3.28 Million Last Week “The number of Americans filing for unemployment benefits surged to a record 3.28 million last week as businesses shuttered and laid off workers as part of efforts to slow the spread of the coronavirus. Initial jobless claims in the week ended March 21 were up
United States: U.S. Equipment Orders Fell More Than Forecast in February “U.S. factories received fewer orders for business equipment than forecast in February, just before the coronavirus-related demand shock that will likely lead a massive pullback in corporate investment. Core capital goods orders, which exclude aircraft and military hardware, fell 0.8% after a revised 1%
March 24, 2020 In 2019, state personal income rose 4.4% relative to a 5.6% increase in 2018 in the U.S. according to estimates released by Bureau of Economic Analysis (BEA). The BEA also noted, “The percent change in personal income across all states ranged from 6.1% in Colorado to 2.8 percent in West Virginia.” Meanwhile,
March 24, 2020 United States: Fed Sidesteps Congress’s Bickering With Sweeping Rescue Plan “The Federal Reserve ventured into political territory Monday by offering to directly finance U.S. companies, jumping ahead of Congress -- which is still arguing over similar assistance. Unveiling unprecedented measures to shelter the economy from the coronavirus, the Fed acted after the failure so
March 23, 2020 PanJam Investment Limited (PJAM) for the year ended December 31, 2019, reported a 42% increase in total income to total $4.63 billion relative to $3.26 billion booked for the prior year’s corresponding period. For the quarter, total income increased 94% to $1.12 billion (2018: $579.75 million). Of total income: Other income increased by
United States: Fed Ready for Unlimited QE and Aid for Companies, Municipalities “The Federal Reserve on Monday announced a massive second wave of initiatives to support a shuttered U.S. economy, including buying an unlimited amount of bonds to keep borrowing costs low and setting up programs to ensure credit flows to corporations and state and
March 20, 2020 Sagicor Group Jamaica (SJ), for the year ended December 31, 2019 reported a 31% increase in total revenues to $92.67 billion from $70.66 billion in 2018, while for the fourth quarter total revenues went up 31% to total $25.16 billion compared to $19.18 billion in 2018. Total revenue for the year end was broken
March 20, 2020 Unemployment rates trended downward for the month of January in 292 of the 389 metropolitan states compared to twelve months earlier. According to Bureau Labor Statistics (BLS), this was, “higher in 77 areas, and unchanged in 20 areas.” Jobless rates lower than 3% were recorded in 51 areas while 4 areas posted
March 18, 2020 For the year ended December 31, 2019, Fosrich Company Limited (FOSRICH)'s revenue rose by 25% to $1.61 billion relative to 2018’s $1.29 billion. Revenue for the quarter amounted to $425.73 million, 23% above the $347.33 million booked for the similar quarter of 2018. Cost of sales increased by 19% to $902.22 million
