CBI calls for review of operating expenses

[Stillw8n]

CBI calls for review of operating expenses
Tuesday November 8, 2011

Central Bank of Iraq stressed the importance of reviewing operating expenses. The deputy governor of Central Bank of Iraq the appearance of Mohammed Saleh, said that “the Bank will intervene strongly to curb inflation if arrived at two places in the decimal places when he called for review of operating expenses in the general budget.”

Saleh added that “there are a lot of doors in the exchange operating budget is incorrect.” Noting that “Iraq has not seen since the 20-year decline in annual inflation to the level of one decimal place only during the year 2011, and reached the figure in February to 3 per ten to rise then gradually going up in August to 7.6 per ten to fall in the month of September to 7.3 per ten. “

He explained that “the Iraqi Central Bank monitors the indicators of inflation in Iraq with the gradual rise during the past months. He pointed out that” the Bank will intervene strongly to curb inflation when what he found up to the stages of worry about the stability and close to two places decimal places and up to 10% or more, the fact that monetary policy able to accommodate inflation. “

Saleh continued that “inflation in Iraq in most facets importer due to the importation of food and rising global oil prices, in addition to higher pay rent houses internally. Pointing out that” the Bank is able to tackle inflation through the use of tools the bank cash correctly to bolster the currency Iraq through the control of the levels of cash flow and enhance the purchasing power of the Iraqi dinar by using the signals of exchange and interest rate.

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