Aug 2010 Financial News

BOJ Clarifies

Aug 20, 2010

In the article titled "Inflation tamed - BOJ forecasts hit the mark", which appeared on page 5 of the Caribbean Business Report in The Daily Observer of Friday 13

August 2010, the article stated: "However, despite what appears to be the early stages of a global recovery, economic growth remained flat in the June quarter with real GDP ranging between 0.0 to 1.0 per cent."

The BOJ's governor Brian Wynter actually said that "real GDP is estimated to have declined in the range of 0.0 per cent to 1.0 per cent; a marginally slower pace of contraction than the reduction of 1.0 per cent recorded in the March 2010 quarter."

The appreciation of 2.9 per cent by the Jamaican dollar occurred in the month of June and not during the April to June quarter as was indicated in the article. The overall appreciation during the quarter was 4.1 per cent.

A full text of Governor Wynter's address can be seen on the Bank's website at www.boj.org.jm.


Source:
Jamaica Observer
Friday August 20, 2010

http://www.jamaicaobserver.com/business/BOJ-Clarifies_7889343