Sunday, November 3, 2024

Association of Banks: Reducing the rate of inflation helped stabilize commodity prices, 3 OCT

Association of Banks: Reducing the rate of inflation helped stabilize commodity prices

Economy News – Baghdad

The Association of Private Banks confirmed on Saturday that the government’s success in reducing inflation to 3.8% helped stabilize commodity prices.

Ali Tariq, Executive Director of the Association of Private Banks, said in a statement reported by the official news agency, and seen by “Economy News”, that “the Association of Private Banks and the Central Bank of Iraq held a seminar entitled (The statistical cycle in the drawing of monetary policy),” noting that “the use of statistical data and information is a methodology taken by the Central Bank of Iraq, especially in the recent period in making decisions, whether at the level of monetary policy or decisions that affect the economy in general.”

He added that “the aim of the symposium is to clarify the economic, financial and banking data to the public by specialists; to view the data published on the Central Bank of Iraq website; to clarify the progress and imbalances with regard to the financial sector or monetary policy.”

Tariq stressed that “one of the important indicators is related to the banking sector, the size of deposits, the size of the money mass and the distribution of deposits between the public and private banking sectors, in addition to the impact of credit and loans and on GDP,” explaining that “on the other hand, as economic indicators, the most important of which were inflation rates, which decreased significantly in the recent period to reach 3.8 percent,” pointing out that “this is considered an excellent rate that maintains the stability of commodity prices and therefore the increase in prices less on the citizen.”

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Added 2024/11/02 – 7:42 PM

https://economy-news.net/content.php?id=49412

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