Jamaican Government “Committed” to Policy of Low Interest Rates, Low Inflation

By: Caribbean Journal Staff - January 17, 2012

Above: the Bank of Jamaica

By the Caribbean Journal staff

There will be no return to a Jamaica of high interest rates, according to Industry Minister Anthony Hylton.

The Jamaican government is committed to low inflation and low interest rates, the Minister said, responding to a concern by Omar Azan, a past president of the Jamaican Manufacturers’ Association.

“There is no such policy position [of a high interest rate policy],” Hylton said. “I am not aware of it and I have been in all the discussions.”

Hylton said the country had seen “significant” structural adjustments, particularly the Jamaica Debt Exchange.

“The structural adjustment occurred in significant ways and nobody in this administration is working to reverse any of that because a person would be crazy to think that a high interest rate policy is desirable,” he said.

The Bank of Jamaica has targeted inflation of between 6 and 8 percent for the fiscal year 2011/2012.

Earlier at the meeting, Hylton spoke about the importance of the manufacturing sector to Jamaica.

Popular Posts

The 10 Best Overwater Bungalows in the Caribbean, From Aruba to Belize

Overwater villas at Caribbean resorts aren’t just a novelty — they’re also among the most luxurious and beautiful accommodations you can stay in. And while all of the bungalows perched above the waves have their charms, some stand out among […]

The Bahamas’ Atlantis Paradise Island Just Completed a $150M Renovation

walking on the beach in nassau

A new eatery by Michelin-star Chef Michael White. A new-look casino. State-of-the-art guest rooms and the Caribbean’s first Shake Shack.  The Bahamas’ Atlantis Paradise Island resort has officially completed a $150 million resort-wide renovation, a significant project that included a […]

United Airlines Is Launching New Nonstop Flights to Belize

river in belize

The river lodges. The blue hole. The Maya history. The reefs. If you haven’t been to Belize, you’re missing one of the Caribbean’s most beautiful, adventure-filled destinations.  And now with another new flight, it’s easier to get there than ever […]

Related Posts jamaica montego bay

LATAM Is Adding More Nonstop Flights to Montego Bay, Jamaica

Jamaica’s record-breaking tourism growth keeps heating up — and not just from traditional source markets like the United States.  That includes a growing number of travelers from still-untapped markets like Latin America.  And new nonstop flights on major carrier LATAM […]

From Montego Bay to Ochi, Why to Visit a Sandals in Jamaica Right Now

sandals south coast with trees

Dunn’s River Falls. The Pelican Bar. Seven Mile Beach. Rick’s. The White River. Rose Hall. Jamaica never stops calling.  Whether you’re looking for the bustle and energy of Montego Bay, the laid-back cool of Negril or the abundant natural beauty […]

American Airlines Is Adding Daily Flights to This Jamaica Hotspot 

american airlines jamaica nonstop

Secluded coves, sparkling turquoise water, the birthplace of James Bond. Ocho Rios, Jamaica has always been one of the island’s most sought-after destinations, from its venerable luxury resorts to its popular all-inclusives.  But it’s never had a nonstop flight from […]


Sign up for Caribbean Journal's free newsletter for a daily dose of beaches, hotels, rum and the best Caribbean travel information on the net.

No. Thank You