Above: BOJ Governor Brian Wynter
By the Caribbean Journal staff
Speculation about the date of the next Jamaican election could add to the uncertainties created by the International Monetary Fund’s delay in reviewing the country’s medium-term economic programme, according to Bank of Jamaica Governor Brian Wynter.
Wynter was speaking at a media briefing to present the bank’s Monetary Policy Report for the third quarter in Kingston.
Earlier this week, the Bank of Jamaica released a report proposing a series of shifts in powers for the institution, including certain discretionary powers for emergency situations.
Wynter also announced that cost of living pressure would likely continue to ease during the last quarter of 2011, with inflation projected in the range of 1 and 2 percent.
He said the Bank expects that for the fiscal year ending Mar. 31, 2012, inflation would be in the target range of 6 percent to 8 percent.
The Jamaican economy grew between 0 and 1 percent in the last quarter, compared to an average quarterly growth rate of 1.8 percent in the first half of the calendar year.