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Rates cut to 9% to spur growth by Iraq banks

Falling oil revenues, presumably from the falling price of oil, has spurred the central bank of Iraq to decrease it’s base interest rate from 11% to 9%.

This decrease is able to happen, in part, due to the inflation rate decreasing in Iraq. As stated by Mudher Mohammed Salih, the Iraq interest rates could call again – Salih is expecting rates to be around 5% in January 2010.

Source: lse.co.uk

Editors comment: With the incredibly stable Dinar value, an inflation rate that is going in a positive direction, and now interest rates falling to extremely attractive levels – what do you think this will do to the situation in Iraq? It’s looking good, we think!

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This entry was posted on Tuesday, March 31st, 2009 at 8:35 pm and is filed under General Iraq Discussion, Iraq Finance, Iraq news, Iraqi Banking related. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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