Muscat: Monetary management in 2014 continues to be confronted with abundance of bank liquidity.
As of the end of
According to the report issued by the Central Bank of
Broad money supply M2 (that is, M1 plus quasi-money) stood at
In respect of the domestic interest rate structure of commercial banks, both deposit and lending rates softened during this period. CBO's policy interest rate for absorption of surplus liquidity in the form of CBO certificate of deposits of 28 days maturity marginally declined to 0.123 per cent in June, 2014 from 0.130 per cent in June, 2013.
The CBO's policy rate for injection of liquidity, that is, repo rate has remained unchanged at 1 per cent since March, 2012.
The CBO report pointed out that the ceiling interest rate on personal and housing loans was cut by one percentage point to 6 per cent with effect from
The weighted average interest rate on Omani rials deposits declined from 1.247 per cent in June, 2013 to 1.041 per cent in June, 2014 while the weighted average Omani rials lending rate decreased from 5.514 per cent to 5.207 per cent during the same period.
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