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BOJ urged to hold benchmark interest rate at 5.5%

BOJ urged to hold benchmark interest rate at 5.5%

Ramon Small-Ferguson, CEO of Barita Investments

 
Chief Executive Officer of Barita Investments Raman Small-Ferguson says he agrees with calls for the Bank of Jamaica to hold its benchmark interest rate at 5.5 per cent for at least the next two quarters, despite rising inflationary pressures. 
 
The central bank is expected to announce its latest monetary policy decision shortly. 
 
Speaking on Radio Jamaica's Real Business on Wednesday, Mr. Small-Ferguson said increasing interest rates now could slow Jamaica's recovery from Hurricane Melissa by making borrowing more expensive for both the private sector and the government.
 
He said maintaining the current environment would support economic activity and help financial companies, such as Barita, grow net interest and fee income. 
 
Mr. Small-Ferguson also argued that the stable rates would make it easier for Barita and its clients to invest in residential and commercial real estate projects. 
 
He also urged stakeholers to remain patient as the company continues to position itself for long-term growth.

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Syndicated from Radio Jamaica News Online · originally published .

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