EPOC: Favourable Conditions to Reduce Interest Rates Emerging

Chairman of the Economic Programme Oversight Committee, EPOC, Keith Duncan, says conditions are growing increasingly favourable for the Bank of Jamaica to reduce interest rates.

Mr. Duncan is reacting to news that the country has managed to successfully maintain inflation within the target band of four to six percent for three successive months.

The BOJ currently maintains an interest rate of seven-percent. It’s believed by many in the private sector that this rate is hurting the country’s growth.

Mr. Duncan believes data coming from the US Federal Reserve should further encourage a downward move in interest rates.

Keith Duncan, Chairman of the Economic Programme Oversight Committee. He was speaking with Nationwide News on Wednesday.