(MENAFN- Muscat Daily) Broad money (M2) supply in the sultanate increased 4.6 per cent to RO11.5bn in November 2013, from RO11bn in November 2012.
Narrow money (M1), comprising currency held by the public and local-currency demand deposits, expanded 4.8 per cent to RO3.9bn at the end of November 2013.
Quasi money - rial savings and time deposits, certificates of deposits issued by commercial banks, margin deposits and foreign currency denominated deposits - increased 4.5 per cent to RO7.6bn in November 2013, from RO7.3bn in the previous year. The key driver of monetary expansion during the period was the 6.9 per cent increase in net foreign assets of the banking system, followed by the 1.7 per cent rise in domestic assets.
The Central Bank of Oman's policy interest rate for absorption of surplus liquidity - in the form of certificates of deposit (CDs) of 28 days' maturity - increased to 0.13 per cent in November 2013, from 0.07 per cent in November 2012. The CBO's repo rate has remained unchanged at one per cent since March 2012.
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