Private sector interests to dialogue with BOJ on improving business conditions

 

Private sector interests says they will be in dialogue with the Bank of Jamaica on ways they think conditions could be improved for business.

 

In an interview with Radio Jamaica News, President of the Private Sector Organisation of Jamaica (PSOJ), Metry Seaga, said his organisation is consulting with its membership. 

 

"We're in the process of working on documents to present to the BOJ, so I don't want to preempt that document. But there are a few things that we can suggest and intend to so do. We just want to do some testing of our theories a little bit more. So within the next couple of weeks you will hear from us as to what we are recommending to the BOJ and how we feel that they can help to alleviate so many issues that the businesses and the people of Jamaica are going through," he disclosed. 

 

Last week, the PSOJ said while the BOJ's decision to lower the policy interest rate to 6.75 per cent was a step in the right direction, the 25 basis points reduction was not enough.

 

It's hoping for much more reprieve in future monetary policy actions.

 

The next announcement will be made by the BOJ on September 30.