Bahrain’s central bank is unlikely to raise interest rates for “some time” because faster economic growth probably won’t push up inflation soon, Governor Rasheed al-Maraj said.
“We don’t see any sign of overheated economic activities or higher inflation rates that could cause us to change our interest rate,” he said in an interview today in the capital, Manama.
The economy of the smallest Gulf Arab kingdom may expand 4 percent this year, compared with 3.2 percent in 2009, the governor said, as the global economic recovery boosts oil prices. The Central Bank of Bahrain last cut its key interest rate by a quarter of a percentage point to 0.5 percent on Sept. 15, as lower oil prices slowed economic growth.
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