Jamaica - Lending interest rate (%)

The latest value for Lending interest rate (%) in Jamaica was 12.06 as of 2020. Over the past 44 years, the value for this indicator has fluctuated between 49.46 in 1994 and 12.06 in 2020.

Definition: Lending rate is the bank rate that usually meets the short- and medium-term financing needs of the private sector. This rate is normally differentiated according to creditworthiness of borrowers and objectives of financing. The terms and conditions attached to these rates differ by country, however, limiting their comparability.

Source: International Monetary Fund, International Financial Statistics and data files.

See also:

Year Value
1976 13.76
1977 13.86
1978 13.68
1979 13.81
1980 15.63
1981 16.07
1982 16.44
1983 16.97
1984 18.53
1985 24.92
1986 27.34
1987 25.45
1988 25.19
1989 25.22
1990 30.50
1991 31.51
1992 44.81
1993 43.71
1994 49.46
1995 43.58
1996 39.83
1997 32.86
1998 31.59
1999 27.01
2000 23.35
2001 20.61
2002 18.50
2003 18.89
2004 18.14
2005 17.36
2006 17.64
2007 17.20
2008 16.83
2009 16.43
2010 20.45
2011 19.51
2012 17.63
2013 17.72
2014 17.22
2015 16.98
2016 16.49
2017 14.91
2018 14.09
2019 13.00
2020 12.06

Development Relevance: Both banking and financial systems enhance growth, the main factor in poverty reduction. At low levels of economic development commercial banks tend to dominate the financial system, while at higher levels domestic stock markets tend to become more active and efficient. The size and mobility of international capital flows make it increasingly important to monitor the strength of financial systems. Robust financial systems can increase economic activity and welfare, but instability can disrupt financial activity and impose widespread costs on the economy.

Limitations and Exceptions: Countries use a variety of reporting formats, sample designs, interest compounding formulas, averaging methods, and data presentations for indices and other data series on interest rates. The IMF's Monetary and Financial Statistics Manual does not provide guidelines beyond the general recommendation that such data should reflect market prices and effective (rather than nominal) interest rates and should be representative of the financial assets and markets to be covered. For more information, please see http://www.imf.org/external/pubs/ft/mfs/manual/index.htm.

Statistical Concept and Methodology: Many interest rates coexist in an economy, reflecting competitive conditions, the terms governing loans and deposits, and differences in the position and status of creditors and debtors. In some economies interest rates are set by regulation or administrative fiat. In economies with imperfect markets, or where reported nominal rates are not indicative of effective rates, it may be difficult to obtain data on interest rates that reflect actual market transactions. Deposit and lending rates are collected by the International Monetary Fund (IMF) as representative interest rates offered by banks to resident customers. The terms and conditions attached to these rates differ by country, however, limiting their comparability. In 2009 the IMF began publishing a new presentation of monetary statistics for countries that report data in accordance with its Monetary Financial Statistical Manual 2000. The presentation for countries that report data in accordance with its International Financial Statistics (IFS) remains the same.

Periodicity: Annual

Classification

Topic: Financial Sector Indicators

Sub-Topic: Interest rates