Bank of Jamaica - file photo
Data from the Bank of Jamaica (BoJ) show a slowdown in the demand for personal loans in the commercial banking sector during the June to September quarter. This occurred despite lower interest rates.
The Central Bank says the continued decline in real wages may have contributed to the fall-off.
Annual growth in the stock of commercial bank loans to the private sector decelerated to 4.8% at the end of September, from 9.6% in the previous quarter.
As it relates to the quality of the loan portfolio, the ratio of non-performing loans to private sector loans declined by 1.1 percentage points to 5.3% at the end of September.
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