The Bank of Jamaica is forecasting growth in private sector credit over the next eight quarters.
Growth is projected to accelerate mildly relative to previous projections.
In its latest quarterly monetary policy report, the Central Bank said private sector credit is projected to grow at an average rate of 3.7 per cent up to June 2021, compared to a previously forecasted expansion of 13.2 per cent.
According to the Central Bank, this revision accounts for the recent buoyancy in private sector credit and, notwithstanding the downward revision to the GDP growth forecast, factors in the impact of the accommodative monetary conditions on credit growth.
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