BOJ says credit conditions eased in June quarter

The Bank of  Jamaica (BOJ), is reporting that credit conditions eased in the June quarter compared to the previous three months.

This was outlined in the Central Bank's quarterly credit condition report.

The BOJ said the easing was recognizable in both lending terms for secured and unsecured loans.

There was an overall decline in the availability of  credit during the June quarter, as evidenced by the Credit Supply Index.

The BOJ says this contraction was evident in the supply of  credit to businesses but there was also no growth in the supply to individuals.

Some lenders indicated that the increased risk posed by the COVID-19 pandemic forced them to reduce available credit.

However, they indicated that they plan to increase credit availability for the September and December quarter.

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