Lower Lending Rates Now
Karen Fitz Ritson - Director of Fitz Ritson and Associates was interviewed by the Caribbean Business Observer , June 4th 2010 with regards to her opinion on lowering interest rates.
WITH the JDX now implemented, the Jamaican dollar revaluing and the banking sector enjoying a benign period, it is perhaps time for the country's leading banks to begin lowering their base lending rates in an effort to bolster the economy and give wings to the productive sector.
The country's leading commercial banking entity, Scotiabank Jamaica, has heeded the call and last month announced that effective June 1, 2010, Scotiabank Jamaica will reduce its base lending rate by over 200 basis points to 17.75 per cent. This will be the bank's lowest base lending rate in five years, as well as the lowest lending rate among Jamaica's major commercial banks.
Read the entire article at the Jamaica Observer website.
