BoJ Bullish On Growth
By: , May 27, 2016The Key Point:
Photo: Melroy Sterling
Bank of Jamaica (BoJ) Governor, Brian Wynter (left), responds to a question during the quarterly press briefing at the BoJ’s headquarters, downtown Kingston on May 26. Also pictured is the bank’s Deputy Governor, Livingstone Morrison.The Facts
- Mr. Wynter noted that business and consumer confidence is high, the Government bond market has reopened, and the stock market is buoyant.
- The BoJ Governor was addressing the quarterly press briefing at the bank’s headquarters in downtown Kingston today (May 26).
The Full Story
Bank of Jamaica (BoJ) Governor, Brian Wynter, is upbeat about the prospects for continued growth during the 2016/17 fiscal year, based on a number of positive economic trends.
Among these are falling market interest rates, a decline in unemployment, and an expansion of private sector credit for personal and business purposes.
Mr. Wynter noted that business and consumer confidence is high, the Government bond market has reopened, and the stock market is buoyant.
In addition, he said that the net international reserves (NIR) have remained robust and continue to exceed benchmark levels.
The BoJ Governor was addressing the quarterly press briefing at the bank’s headquarters in downtown Kingston today (May 26).
“Looking forward, the bank’s policy stance will be geared towards maintaining low inflation as our contribution to the foundation for higher gross domestic product (GDP) growth in Jamaica,” he said.
Mr. Wynter informed that the bank’s inflation target for fiscal year 2016/17 has been set at 4.5 to 6.5 per cent.