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PSOJ strikes a cautious note on the economy

 
The Private Sector Organisation of  Jamaica (PSOJ) says it's concerned about the current state of  the economy but will give the government's inflation and exchange rate strategies a chance to work.
 
PSOJ President Howard Mitchell says the organisation has been having regular meetings with the finance ministry since the introduction of  the floating exchange rate policy.
 
He says while the PSOJ is now in wait-and-see mode, it's confident the Bank of  Jamaica has enough reserves to intervene if  a disorderly market situation arises.
 
Nevertheless, he says the PSOJ thinks there is a need to make changes to the way the economy is managed.
 
In the meantime, Mr. Mitchell has shied away from saying whether he thinks the dollar slide will lead to price increases. He says we should not allow it to become a self-fulfilling prophecy and that he expects the BOJ to intervene should the market become disorderly. 
 
 
 
 


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