Financial and Banking News
BUDGETS AND REVENUES
Oman Raises Interest Rates
The Central Bank of Oman (CBO) has increased domestic interest rates as of1 April. The ceiling rate on time deposits has been increased from 8.5% to 9.5%and from 10.5% to 11.25% for lending. The increase is the first change in therates since February 1986 and is designed to enhance local liquidity anddiscourage transfers out of the local currency, the Riyal Omani (RO) and the USdollar, to...
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