Have you been adversely impacted by BOJ’s recent string of rate hikes? Loop Jamaica

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Black Immigrant Daily News

The content originally appeared on: Jamaica News Loop News
Loop News

48 minutes ago – Updated

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The Bank of Jamaica last week announced an increase in the policy interest rate by 50 basis points (bps) to seven per cent but with the decision signalled a possible easing of rate increases in the future, providing that certain inflation-control conditions are met.

The current decision has resulted in a cumulative increase in the policy rate since October 2021 of 650 bps, which critics say is sending loan rates higher for consumers businesses.

Most banks have already announced that they will increase interest for some customers who are in process of repaying borrowed funds.

Additionally, new customers will have to pay higher interests on loan offers they might want to capitalise on to fund expenses over the upcoming festive season.

BOJ’s recent string of rate hikes?

Yes, it’s causing more hardship for me

100% (1 vote)

The changes in interest doesn’t really bother me

0% (0 votes)

I have not been advised of any changes in interest rate from my bank

0% (0 votes)

I don’t understand the topic enough to have opinion

0% (0 votes)

Total votes: 1

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