Browse related articlesUAE inflation may hit 12%
United Arab Emirates: Monday, January 28 - 2008 at 10:59
Inflation in the UAE is expected to soar to a record 12 per cent this year unless immediate steps are taken to revalue the dirham to tighten monetary policy, warned a leading global financial management and advisory company, reported Khaleej Times. Predicting that strong capital inflows, extra-loose monetary policy, weakening fiscal prudence and imported inflation are likely to drive inflation in the absence of a tight monetary policy. Merrill Lynch also said currency strengthening should be used as a policy tool in the fight against inflation.
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Amena Bakr, Senior ReporterMonday, January 28 - 2008 at 10:59 UAE local time (GMT+4)
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