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.
Related Content
Article Options
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 »
Articles in this section are primarily provided directly by the companies appearing or PR agencies which are solely responsible for the content. The companies concerned may use the above content on their respective web sites provided they link back to http://www.ameinfo.com
Any opinions, advice, statements, offers or other information expressed in this section of the AMEinfo.com Web site are those of the authors and do not necessarily reflect the views of AME Info FZ LLC / Emap Limited. AME Info FZ LLC / Emap Limited is not responsible or liable for the content, accuracy or reliability of any material, advice, opinion or statement in this section of the AMEinfo.com Web site.
For details about submitting your stories, please read the guide - all content published is subject to our terms and conditions
