Bank of Jamaica Governor Richard Byles - FILE PHOTO
Bank of Jamaica Governor Richard Byles says the institution is developing a number of measures to deal with commercial banks which fail to respond to the central bank's policy measures, particularly to changes in the benchmark rate.
These comments are in response to calls from certain segments of the private sector and the media for the members of the commercial banking sector to reduce their lending rates.
This to facilitate investments and growth following the central bank's recent decision to slash the benchmark rate by 75 basis points from 7 to 6.25% per annum.
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