UWI Lecturer and Economist, Dr. Andre Haughton is warning that the recent central bank hike in interest rates could do more harm than good given the current economic climate.
His comments follow recent Bank of Jamaica (BOJ) inflation forecasts and increasing gas prices. Dr. Haughton, a former opposition senator says concentrated effort needs to be made in policy review to stabilize the outlook of the economy. Following the Bank of Jamaica’s forecast of inflation reaching highs of 11 percent, economist Dr. Haughton in reviewing this prediction says consideration needs to be made on expansionary policy within the economy.
In an effort to combat inflation the BOJ has raised the interest rate to 4 percent. However Haughton says this is bad for growth and suggests that investments in business may aid in recovery. In the meantime he is encouraging Jamaicans to spend wisely to maximize the value of the Jamaican dollar.
JCF officer, Constable Lakarie Barrett, was charged for a 2022 off-duty shooting in Accompong, St.…
A policeman and a businessman were charged with kidnapping, robbery with aggravation, breaches of the…
A 17-year-old boy is facing charges for the stabbing murder of 20-year-old Akeilia White and…
In this update, murder accused Jolyan Silvera appeared in the Home Circuit Court on Tuesday,…
Founder of Hear the Children’s Cry, Betty-Ann Blaine, has died. News of the passing of…
Uproar in Ocho Rios, St. Ann, on Thursday as vendors aired their disapproval of the…