Langrin takes the helm

The Bank of Jamaica (BOJ) has appointed Dr Brian Langrin as governor, succeeding Richard Byles, whose seven-year term ends today.

The appointment follows a selection process formalised in April 2026 through a four-member search committee convened by Finance Minister Fayval Williams, which assessed a field of local and international candidates.

Langrin takes over at a time of uncertainty, with the central bank maintaining a tight grip on inflation through elevated interest rates.

He brings more than two decades of leadership across central banking, financial stability, and multilateral development institutions. He spent more than 15 years at the Bank of Jamaica in senior roles spanning financial stability and economic research, according to his Linkedin profile, before joining the International Monetary Fund’s Caribbean Regional Technical Assistance Centre as resident adviser in financial stability from 2017 to 2020. He subsequently served as executive director at the Inter-American Development Bank in Washington from 2020 to 2022, representing the constituency that includes Jamaica, and most recently, held a two and a half year appointment as board adviser to the World Bank for the Canada, Ireland, and Caribbean constituency. He holds a PhD in Economics from Pennsylvania State University and has published extensively on financial stability and monetary policy.

Reacting to the appointment, Dr Damien King, executive director of Caribbean Policy Research Institute (CAPRI), said Langrin, the 12th BOJ governor, is a well-trained economist who is ready to take the helm.

The BOJ has a legislative mandate to maintain inflation within a range of four to six per cent. If factors push inflation above that range, the Bank is obligated to pursue policies to bring it back down. Likewise, if inflation falls below the target range, it is required to take measures to move it upward.

Given Langrin’s training and experience, King said Jamaicans can be confident in his ability to manage the Central Bank’s mandate and maintain low and stable inflation, which in turn supports relative stability in the foreign exchange market.

“Langrin’s previous experience at the Bank of Jamaica also provides assurance of continuity and competence in the management of monetary policy. He has the technical expertise, and the Bank of Jamaica itself possesses the institutional capacity to continue delivering the low and stable inflation to which the country has become accustomed,” King said.

Byles’ legacy

Byles was appointed governor on August 19, 2019, after retiring from Sagicor Group Jamaica, where he had served as president and chief executive officer. He also served as the first private-sector co-chairman of Jamaica’s Economic Programme Oversight Committee, the body formed to monitor Jamaica’s performance under its International Monetary Fund-supported reform programme.

His tenure spanned what was arguably the most turbulent period in modern central banking. Jamaica’s financial system navigated a succession of overlapping shocks – from the COVID-19 pandemic and global supply-chain disruptions to the Russia-Ukraine war, conflict in the Middle East, and aggressive monetary tightening in major economies – all of which tightened financial conditions and drove volatility in energy and commodity prices. Domestically, Hurricanes Beryl and Melissa compounded the pressure, disrupting economic activity, straining foreign exchange markets, and raising fiscal demands for reconstruction.

Through it all, the BOJ maintained overall financial stability.

The BOJ’s next interest rate decision is scheduled for tomorrow, August 19 – with the policy rate sitting at 5.50 per cent and annual inflation running at 6.7 per cent as of June, above the central bank’s four-to-six per cent target range for the first time since February 2024.

business@gleanerjm.com