The Reserve Bank of India (RBI) could reverse its monetary tightening cycle, if December inflation falls sharply, a senior finance ministry official said yesterday, a day after a central banker said interest rates have peaked.
The RBI has
Oman's central bank is likely to keep its policy stance accommodative to boost confidence in the non-oil sector, although inflation may rise due to government spending to rein in social tensions.
The Sultanate, hit by social unrest ea
Gulf central bank governors will hold the first meeting of their joint monetary council on March 30, the next step towards monetary union, the head of the Gulf Cooperation Council was quoted as saying on Tuesday.
Bahrain has cleared the final hurdle towards joining a GCC common currency.
Members of the Shura Council approved the move, which has already won the backing of parliament and the government.
It means the path is clear for Bahrain
The ninth GCC Banking Conference will be taking place in the Kingdom of Bahrain.
The event, to be held under the patronage of Prime Minister Shaikh Khalifa bin Salman Al Khalifa, is set for March 24 and 25, 2009, at the Ritz Carlton
Saudi Arabia is keeping its monetary and foreign exchange policies unchanged for now, the finance minister and central bank governor told a council that advises the king, one of the councillors said.
'We were not led to believe that there
Kuwait's lawmakers should not try to influence the Gulf Arab state's monetary policy as they seek to ease the burden of indebted citizens, the head of a syndicate representing commercial banks said.
The remarks of Abdul-Majeed al-Shatti, t
China's central bank, battling to restrain growth in the money supply and inflation, announced it was lifting the proportion of deposits that commercial banks must keep in reserve to a record high.
The 0.5 percentage point rise in banks' r