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Central Bank of Iraq to curb inflation swiftly

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SBM0601
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Post by WelshDinar Wed Nov 09, 2011 3:40 pm

Central Bank of Iraq to curb inflation swiftly



Wednesday, November 09, 2011 18:06 GMT



On Sunday, Central Bank of Iraq revealed, its
willingness to intervene to curb inflation in the event it reaches two
decimal ranks. It is necessary to review the general budget’s operating
expenses, Central bank called, noting that many expenses in the
operational budget are inaccurate.
“For the first time since 20
years, Iraq’s annual inflation rate decreased to reach a one decimal
rank, i.e. 3/10 in February 2011. Afterwards, the rate gradually
increased to reach 7.6/10 in August and then slightly decreased to
7.3/10 in September 2011”, “deputy governor of Iraqi Central Bank
Mazhar Mohammad Saleh told Alsumarianews.

“Central Bank of Iraq (CBI) is monitoring inflation indicators in
Iraq and their gradual increase during the last few months,” Saleh said.
“CBI monetary policy is capable of containing inflation,” he informed.
“The bank can therefore interfere swiftly to stop inflation in the event
it reaches stages that shake stability at about two decimal ranks i.e.
10% or more,” he added.

“Inflation in Iraq is mostly imported due to foodstuffs import,
international oil prices’ increase in addition to the upsurge of houses
rent prices” Saleh uttered. “CBI can deal with inflation through the
right use of its monetary tools,” he declared. “The bank controls
therefore cash flow rates to support and hold up Iraqi currency and uses
exchange signals and interest rates to boost Iraqi Dinar’s purchasing
power,” he clarified.

Deputy governor called Iraqi government “to fully reconsider general
Iraqi budget’s operating expenses by means of reengineering and
reviewing the operational budget.”. “There is a huge dissipation of
resources in the operational budget,” he pointed up.

“There is a lot of inaccurate spending in operational budget as well
as impotent administration, corruption, mismanagement, wasting of
resources and inaccurate expenses,” Saleh revealed. “Many institutions
established since Iraqi government’s formation in 2003 are not effective
anymore,” he added.

August 28, Central Bank of Iraq announced, that inflation rate
increased to more than 7% in July. Monetary policy will curb this
increase and absorb a part of the demand pressure as well as inflation
expectations, Saleh stressed uttering concerns over the increasing rates
despite the fact that it is still lower than 10%.
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Post by Guest Wed Nov 09, 2011 4:04 pm

Come RI!

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Post by SBM0601 Wed Nov 09, 2011 4:22 pm

Central Bank of Iraq to curb inflation swiftly  974290055 I hope Shabbs sees 9.9 % inflation when he goes to bed tonight. I believe he will push button:cheers: bounce
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Post by CaptnJerry Wed Nov 09, 2011 4:24 pm

Come on RI/RV! Central Bank of Iraq to curb inflation swiftly  2474380249

CJ

*****************
Inspired by Splovengates "Be ready between sunday and monday night, or maybe tuesday or wednesday, could also be thursday but definitely by friday.... probably next week, monday or late tuesday night, wednesday morning to hear the rv and should be cashing in on the following tuesday the 1st part of january or february. Sooner more than later. But no later than the beginning of 2013. Certainly not before then. Until then, let's enjoy the ride!


Central Bank of Iraq to curb inflation swiftly  Animated-smileys-leisure-013 Come on RI/RV!
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Post by jahlives Wed Nov 09, 2011 4:40 pm

SBM0601 wrote:Central Bank of Iraq to curb inflation swiftly  974290055 I hope Shabbs sees 9.9 % inflation when he goes to bed tonight. I believe he will push button:cheers: bounce
------

When he goes to bed? No way, no how! There will be no sleeping until he gets 'er done. LOL. COME ON, RI/RV, NOW!!!!
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Post by sandytob Wed Nov 09, 2011 4:59 pm

What can we do to push the inflation rate up a little, lol?

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Post by 1alaskan Thu Nov 10, 2011 1:09 pm

As it nears the magic number of 10, Will Dr. Shabibi RV and a low rate to help ease the inflation rate and then RV at a later date to a higher rate. If so, how much later?

*****************
Being defeated is often a temporary condition. Giving up is what makes it permanent.
Marilyn Vos Savant


Yesterday would have been better, but today is a good day

Remember as always, JMHO
Rantings from just north of sixty

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