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'Loose' policy could push oil above $100, says Merrill
- Middle East: Thursday, October 08 - 2009 at 09:29
According to Bank of America Corp.'s Merrill Lynch unit, oil may jump above $100 next year as emerging market demand rises and 'loose' monetary policy weakens the US dollar. 'A vicious cycle of rising oil prices, rising capital inflows in emerging markets, continued emerging market currency appreciation and in turn higher emerging market commodity demand could trigger a sharp deterioration of terms of trade in OECD economies, putting the fragile global recovery at risk,' the analysts said in the report.
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StaffThursday, October 08 - 2009 at 09:29 UAE local time (GMT+4)
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