Low Inflation Linked with Low Levels on Bank Lending


Economist Dr Damien King, says the country’s very low inflation rate is an indication that banks aren’t lending enough.

The Bank of Jamaica (BOJ) reported an inflation rate of 2.4% in December – well below their target of 4-6%.

This has triggered a consultation with the IMF, under the Standby Agreement.

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However, he says the inflation rate hovering over 2% is consistent with a stable cost of living.

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Meanwhile, Financial Analyst, Dennis Chung, says more productivity is needed for the nation to have more economic growth and favourable inflation in the economy.

Mr Chung says economic growth and investment are increasing.

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He says there’s need for greater focus on producing foods which are in demand.

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Stevian Simmonds is an investigative journalist with almost 3 years of experience in radio broadcasting, production and reporting. She graduated from Caribbean School of Media and Communication in 2014 and joined Nationwide News in 2016. In 2018, she produced a special report examining the working conditions of the Bussiness Process Outsourcing Industry. She worked undercover as a call center agent for a month, revealing the lack of data protection and general security infrastructure in the industry. Her report also highlighted the poor working conditions and remuneration faced by workers in the industry. In 2018, Stevian traveled to New Delhi India where she participated in the Inaugural WHO Partners Forum benefiting from critical training related to reporting on women’s and children’s health issues.