By NEIL HARTNELL

Tribune Business Editor

CUTTING the Bahamian Prime Rate will not stimulate the economy but merely "transfer wealth" from savers and pension funds to borrowers, a leading accountant told Tribune Business yesterday, with the Government spending its estimated $40 windfall on meeting existing obligations/reducing debt.

Countering calls for the Central Bank of the Bahamas to lower the Prime Rate and both stimulate the economy/relieve pressured borrowers, Raymond Winder, managing partner at Deloitte & Touche (Bahamas), said such a move would effectively act as an increased tax imposed on savers and pension funds.

Rather than use the reduced cost of capital to expand ...

Click here to read more at The Tribune