Bank of Jamaica Governor Richard Byles has slammed critics of the central bank’s decision to hike its key policy interest rate twice in the last six weeks — a measure the governor said was taken to control worsening inflation to prevent it from spiralling out of control.

The central bank has come under heavy criticism from economists, business leaders, and even the Opposition spokesman on finance Julian Robinson for the action. However, Byles, who was speaking in the bank’s Monetary Policy Committee press conference on Friday, was strident in reply.

“The very same voices which are talking out against the 1 per cent and the 0.50 per cent movement in our policy rate, those very same people would be criticising the central bank for not being more proactive,” the former insurance executive turn central bank governor retorted.

https://www.jamaicaobserver.com/sunday-finance/boj-slams-interest-rate-critics-governor-says-he-would-rather-act-early-than-be-criticised-for-not-being-proactive_236829?profile=1056