Opposition Spokesman on Finance Julian Robinson says the bank of Jamaica BOJ needs to take stock now, to determine whether it needs to continue interest rate increases and to also examine the pace at which it has raised the interest rate.

The BOJ announced recently its decision to increase the policy interest rate by 50 basis points to 6.5 per cent per annum, effective September 30.

The bank also decided to continue pursuing other measures to contain the Jamaican dollar liquidity expansion and to maintain relative stability in the foreign exchange market.

Mr. Robinson says while, it’s understandable that the central bank had to intervene and has been aggressive with the intervention, its time to evaluate.

He adds that, he does not believe capital flight is a big issue for Jamaican investors.

Opposition spokesman on finance julian robinson.