30 May, 2010Central Bank: core inflation in Iraq is reduced to 3%
Data showed the central bank said on Saturday that the rate of core inflation in Iraq and the continued slowdown in April, falling to three percent on an annual basis from the three point six percent in March.
The central bank cut its main interest rate a hundred basis points to six percent in April due to fading of inflation and the interest rate is symbolic, largely in the economy emerge from the war and is still largely insulated from the global financial system, dominated by the oil sector is overwhelmingly on the formal economy of Iraq who is trying to recover from years of sectarian violence that followed the US-led invasion in 2003.
VinTV
