Browse
related articles
Rate cut set curb UAE inflation
- United Arab Emirates: Wednesday, January 23 - 2008 at 11:12
The UAE and other dollar-pegged Gulf countries, already reeling under sharp increases in cost of living, will come under increased inflationary pressure following a massive 0.75 per cent rate cut by the US Federal Reserve, reported Khaleej Times. Analysts said following the steep rate cut, global currency markets are expected to dump dollar further in favor of other stable currencies. This will result in further sharp decline in dollar value. In tandem with the dollar decline, the UAE currency has been falling against other currencies, stoking imported inflation. In 2006, UAE's inflation hit a 19-year high of 9.3 per cent. In 2007, one estimate said inflation crossed 10 per cent.
Also consider reading:
Today's top stories
Week's top stories
Digg
Facebook
LinkedIn
Twitter
Browse
related articles
Amena Bakr, Senior ReporterWednesday, January 23 - 2008 at 11:12 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.
Disclaimer:
The information comprised in this section is not, nor is it held out to be, a solicitation of any person to take any form of investment decision. The content of the AMEinfo.com Web site does not constitute advice or a recommendation by AME Info FZ LLC / Emap Limited and should not be relied upon in making (or refraining from making) any decision relating to investments or any other matter. You should consult your own independent financial adviser and obtain professional advice before exercising any investment decisions or choices based on information featured in this AMEinfo.com Web site.
AME Info FZ LLC / Emap Limited can not be held liable or responsible in any way for any opinions, suggestions, recommendations or comments made by any of the contributors to the various columns on the AMEinfo.com Web site nor do opinions of contributors necessarily reflect those of AME Info FZ LLC / Emap Limited.
In no event shall AME Info FZ LLC / Emap Limited be liable for any damages whatsoever, including, without limitation, direct, special, indirect, consequential, or incidental damages, or damages for lost profits, loss of revenue, or loss of use, arising out of or related to the AMEinfo.com Web site or the information contained in it, whether such damages arise in contract, negligence, tort, under statute, in equity, at law or otherwise.
It looks like you are using a Mac - check out our 
Web Feeds