{"id":9539,"date":"2011-06-21T09:12:13","date_gmt":"2011-06-21T13:12:13","guid":{"rendered":"http:\/\/www.bahamasb2b.com\/news\/?p=9539"},"modified":"2011-06-21T09:23:39","modified_gmt":"2011-06-21T13:23:39","slug":"interest-rate-cut-wont-benefit-economy","status":"publish","type":"post","link":"https:\/\/www.bahamasb2b.com\/news\/2011\/06\/interest-rate-cut-wont-benefit-economy","title":{"rendered":"Interest Rate Cut Won&#8217;t Benefit Economy"},"content":{"rendered":"<p>With between 75-90 per cent of Bahamian companies not paying their electricity and National Insurance Board (NIB) contributions on a timely basis, a leading accountant believes the 75 basis point reduction in the Discount and Prime rates will have &#8220;minimal impact&#8221; in terms of stimulating economic activity.<\/p>\n<p>Raymond Winder, managing partner at Deloitte &amp; Touche (Bahamas), told Tribune Business that individuals and companies were more likely to use the estimated $60-$70 million set to be returned to borrowers to pay-off existing debt &#8220;shore up&#8221; household and company balance sheets, rather than engage in new spending.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Due to the severity of the ongoing recession the reduction in the Discount and Prime rates will have &#8220;minimal impact&#8221; in terms of stimulating economic activity.<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_10223285771444175_51037792744":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[3],"tags":[153,29,98],"class_list":["post-9539","post","type-post","status-publish","format-standard","hentry","category-business","tag-business-2","tag-economy","tag-financial"],"_links":{"self":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts\/9539","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/comments?post=9539"}],"version-history":[{"count":0,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts\/9539\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/media?parent=9539"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/categories?post=9539"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/tags?post=9539"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}