AGP Executive Report
Last update: 11 hours agoMonetary Policy Watch: Bank of Jamaica’s new governor Dr Brian Langrin held the policy rate at 5.5% as inflation hit 7.5% in July, saying second-round effects are emerging but risks are “skewed to the upside” and tightening is on the table if needed. Inflation & Credit Conditions: BOJ says commercial banks slowed business lending in June (business credit up 6.5%), while the economy contracted 2.9% in the June quarter—adding pressure to already tight financing. Hurricane Melissa Recovery: Insurance giant Guardian says it has settled 70%+ of Melissa claims and is rolling out faster estimating to reduce delays. Local Government & Revenue: KSAMC and TAJ launched a drive to collect $265m+ in arrears from businesses and property owners, rewarding compliant firms in Half-Way-Tree. Energy Costs: JPS urged businesses to request energy audits and use smart meters to cut peak-season electricity bills. Business Moves: Pan Jamaica Group bought the Discount Pharmacy property for a larger Manor Park-area redevelopment; Digicel says its AI agent Ruby handled 55% of Jamaica queries without human help. Regional Outlook: ECLAC trimmed Latin America and the Caribbean’s 2026 growth forecast to 2.2% and flagged Cuba’s 10.3% contraction. Tourism & Hospitality: Ocean Eden Bay will rebrand as Ocean Allure Eden Bay in November with upgraded amenities.
Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result. Feedback is welcome. Please let us know if you have any comments or suggestions about the AGP Executive Report.