domestic crop production and in the mining sector, due to the hurricane. for the december quarter, the economy is estimated to contract within the range of - 1. 0 to 0. 0 per cent. outlook for the jamaican economy i will now briefly discuss the forecast. inflation is projected to broadly remain within the bank's target range over the next two years. the current outlook for inflation is lower than the previous forecast that was shared with you in august 2024. this downward revision mainly reflects lower transport - related and processed food price inflation. however, the balance of risks to the inflation forecast are skewed to the upside ( which means that inflation is likely to be above forecast ). there is increased uncertainty related to potential economic policy changes among jamaica's main trading partners, 2 / 3 bis - central bankers'speeches which could have adverse implications for investment and remittance inflows as well as inflation expectations. higher inflation could also result from further escalation in geopolitical tensions, which could adversely impact international supply chains. worsethan - anticipated weather conditions in jamaica could also influence higher inflation. while information suggests that private sector wage increases have stabilised at their pre - covid rate, there have been emerging reports of labour market pressures in particular sectors. on the downside, lower - than - projected domestic demand could influence lower inflation. in relation to demand conditions, for fy2024 / 25, the bank projects that the change in real economic activity will fall in the range of - 1. 0 to 0. 5 per cent, while real gdp for fy2025 / 26 is projected to grow by between 1. 0 and 3. 0 per cent. the projection for fy2024 / 25 largely reflects the anticipated adverse impact of hurricane beryl on the economy and is underpinned by contractions for agriculture, forestry & fishing and construction. the outlook for fy2025 / 26 reflects the view that there will be a fairly rapid rebound in economic activity following the declines in fy2024 / 25. concluding statement ladies and gentlemen, i wish to conclude by : ( 1 ) highlighting the positive development of inflation being lowered firmly within the target range of 4. 0 to 6. 0 per cent with the expectation that jamaicans will benefit from a stable and predictable rate of price increases over the next two years. ( 2 ) i also want to reaffirm bank of jamaica's commitment to continuing to achieve its primary mandate of price stability

andriy pyshnyy : national bank of ukraine press briefing - monetary policy decisions speech by mr andriy pyshnyy, governor of the national bank of ukraine, at a press briefing on monetary policy decisions, kyiv, 12 december 2024. * * * dear colleagues, the board of the national bank of ukraine has decided to raise the key policy rate to 13. 5 % per annum. this decision is intended to preserve the sustainability of the fx market, keep inflation expectations in check, and gradually bring inflation down to the target of 5 %. in recent months, inflation has been rising faster than forecast by the nbu in november, inflation accelerated to 11. 2 % yoy. on the one hand, consequences of limited food supply due to this year's weaker harvests were an important driver of price growth. the impact of this factor on inflation is expected to be neutralized next year as new harvests enter the market. on the other hand, the inflationary surge is starting to look more and more fundamental, which is evidenced by further growth in core inflation. the latter is associated with increases in businesses'expenses on electricity and labor, as well as with exchange rate effects from the weakening of the hryvnia in previous periods. inflation expectations are relatively stable as of now. however, the risk that they might unanchor is increasing as households pay more attention to inflation processes. inflation is expected to slow in 2025 and move toward the 5 % target further on in the coming months, inflation is likely to continue to rise in annual terms due to the further impact of food supply factors, large budget expenditures, significant pace of wage growth, and wider energy shortages during the heating season. however, going forward, inflation should decelerate as the situation in the energy sector improves and harvests increase. this will also be facilitated by the nbu's monetary policy measures and an expected easing of external price pressures. in 2025, volumes of international financial assistance will be sufficient for nonmonetary financing of the budget deficit and maintaining the sustainability of the fx market in recent months, the risks of international financing inflows being insufficient in 2025 have declined substantially thanks to the progress made in the implementation of the ukraine loan cooperation mechanism, which envisages non - repayable macrofinancial 1 / 3 bis - central bankers'speeches assistance, as well as in the allocation of funds under extraordinary revenue acceleration loans. the nbu '