Rate-hike expectations climb from a fifth to a third among local business leaders

Jamaican business leaders expect inflation to ease to 6.8 per cent by December, even as a growing share anticipate that the Bank of Jamaica (BOJ) will raise interest rates. The central bank’s July survey of businesses’ inflation expectations, published this month, found that the share expecting a marginally higher benchmark rate jumped to 31.9 per cent from 22.5 per cent in the previous survey. Those expecting the rate to remain unchanged stood at 40.7 per cent, down from 49.1 per cent in the June round.