BOJ Urged to Follow US Fed’s Lead and Cut Interest Rates

Chartered accountant, Dennis Chung, is urging the Bank of Jamaica, BOJ, to keep pace with the interest rate cuts coming from the US Federal Reserve.

Mr. Chung says the country is in dire need of an easing of fiscal policy to stimulate growth.

On Friday, the US Federal Reserve announced a cut in its interest rates by 25 basis points down to 4.75 per cent.

The cut is expected to provide some added relief for consumers and borrowers in the United States, who, like much of the rest of the world, have been struggling due to higher prices caused by inflation.

Mr. Chung anticipates that the BOJ will make its own cut in line with the US Federal Reserve soon.

Dennis Chung, chartered accountant.