Oman mulls tighter lending curbs as inflation jumps
Oman's central bank is ready to tighten bank lending curbs again after inflation hit an 18-year peak of 11.1 per cent in February, Executive President Hamood Sangour al-Zadjali said on Sunday.
By PTI |
MUSCAT: Oman's central bank is ready to tighten bank lending curbs again after inflation hit an 18-year peak of 11.1 per cent in February, Executive President Hamood Sangour al-Zadjali said on Sunday. In December, Oman raised the reserve requirement for banks for the second time in five months to 5 per cent of total deposits from 3 per cent to prevent lower borrowing costs from fuelling inflation.
"We are observing the liquidity situation in Oman and if we need to raise it again we will do so," Zadjali told Reuters on the sidelines of an investment conference in the Omani capital, Muscat. Oman's annual money supply jumped 40.5 per cent in February, its fastest pace of growth in at least four years.
"We are observing the liquidity situation in Oman and if we need to raise it again we will do so," Zadjali told Reuters on the sidelines of an investment conference in the Omani capital, Muscat. Oman's annual money supply jumped 40.5 per cent in February, its fastest pace of growth in at least four years.
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