Newly appointed Governor of the Bank of Jamaica, Richard Byles says without further monetary adjustments Jamaica will most likely fall below its inflation target over the next eight quarters.
The country’s inflation target is key to meeting the government’s budgetary requirements.
Mr. Byles says changing the target has wider implications for the economy.
The Central Bank Governor says it’s decision Tuesday to make further adjustments to its policy rate should result in an upward correction to bring inflation in line with targets.
He was speaking this afternoon at the Bank’s Nethersole Place headquarters in Kingston.