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<span style="font-weight: bold">News Source: OTGNR - </span>
<span style="font-weight: bold"> Confirmed : PM Golding hints at ...ica ( RJR )...</span>
Prime Minister Bruce Golding has indicated that the Bank of Jamaica could cut interest rates further, in the near future. Benchmark interest rates in Jamaica were recently cut to 6.75% by the Bank, as inflation remains tame and the Net International Reserves remains above target. The benchmark rate is now the lowest since 1970.However Mr. Golding said the central bank has indicated that there is room for more cuts."I had my monthly meeting with the economic monetary team yesterday and I don't want to speak out of turn, but when I spoke with the Bank of Jamaica and I asked the Governor 'you have overshot your target, what is likely to be the situation going on' and his reply was that he still has more shots to fire so we aren't done yet in trying to realign a critical indicator like our interest rates," Mr. Golding said.The Prime Minister said a further reduction in interest rates will be critical to getting investments going again in Jamaica, to create much needed jobs.
<span style="font-weight: bold"> Confirmed : PM Golding hints at ...ica ( RJR )...</span>
Prime Minister Bruce Golding has indicated that the Bank of Jamaica could cut interest rates further, in the near future. Benchmark interest rates in Jamaica were recently cut to 6.75% by the Bank, as inflation remains tame and the Net International Reserves remains above target. The benchmark rate is now the lowest since 1970.However Mr. Golding said the central bank has indicated that there is room for more cuts."I had my monthly meeting with the economic monetary team yesterday and I don't want to speak out of turn, but when I spoke with the Bank of Jamaica and I asked the Governor 'you have overshot your target, what is likely to be the situation going on' and his reply was that he still has more shots to fire so we aren't done yet in trying to realign a critical indicator like our interest rates," Mr. Golding said.The Prime Minister said a further reduction in interest rates will be critical to getting investments going again in Jamaica, to create much needed jobs.