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View Full Version : Iraq Central Bank Governor is unlikly to have the next election on the national econo



GiGi
01-20-2010, 02:12 AM
Iraqi Central Bank governor is unlikely to have the next election on the national economy



TOKYO (Reuters): The governor of Central Bank of Iraq on Tuesday is likely to cut its interest rates from the current rate at seven percent, but the size reduction will depend on inflation. .He ruled out Shabibi told Reuters Television in Tokyo, the Iraqi economy suffered any problems due to scheduled elections in March, which is considered a crucial test of Iraq as it seeks to break the cycle of violence that followed the US-led invasion in 2003.


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The Iraqi Central cut interest rates to seven percent from nine percent in June to fit with the decline in the rate of inflation. He added that it is likely that interest rates less than seven percent, but stressed that it would depend on the rate of inflation to growth and that will be monitored so closely.

The official interest rate in Iraq, price guidance for bank interest rates rather than a mechanism of direct cash as the banking sector is small and capital markets need to be developed. Shabibi said that monetary policy Stguetvy impact of developments in inflation and added that the central bank has managed to reduce inflation through monetary policies. He said inflation fell to about 6.0 percent.


Although the main indicator of inflation for consumer prices of 9.2 percent early last year. Shabibi said that it expected growth of the Iraqi economy, which relies entirely on oil production a little more than the IMF forecast that came in at 5.8 percent this year, ignoring the security concerns before the congressional elections of March.
Shabibi expected to end violence once more economic growth and rising income levels.



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http://www.darabeen.com/index.asp?fname=/2010/01/01-19/2010-1-19-23-51-56.htm&dismode=x&ts=19/01/2010 11:59:57 م