Interest Rates
The announcement by the Bank of Jamaica (BOJ) that it has increased interest rates in an effort to control inflation has raised eyebrows and initiated discussion among the public who are awaiting some understandable reason for the action. While the use of interest rate policy is a valid remedy for an economy that is overheating, it cannot be a one tool for all in its application.
Economies are not always similar in how they respond to monetary and, for that matter, fiscal policie
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