Private Sector Organisation Warns Central Bank’s Raise of Interest Rates Affecting Businesses

The Private Sector Organisation of Jamaica is warning that the Bank of Jamaica’s actions have already had a material impact on businesses.

Member of the PSOJ’s Economic Policy Committee, Theodore Mitchell says the BOJ’s actions are reflected in a slow down in loans to the sector.

He says inevitably there’s going to be a reduction in investment and a hit to the country’s growth.

And, Vice President of the PSOJ, Dr. Adrian Stokes says the BOJ has also failed to consider the current financial conditions in its decision.

Dr. Adrian Stokes, Vice President of the Private Sector Organisation of Jamaica.