Muscat, Monetary aggregates as at the end of August 2017, the narrow money stock (M1) registered a year-on-year (YoY) marginal increase of 0.3 percent to RO5.1 billion. However, quasi-money (Rial Omani saving and time deposits, certificates of deposit issued by banks, margin deposits and foreign currency denominated deposits) witnessed a growth of 3.4 percent during this period, according to the bulletin released by the Central Bank of Oman (CBO).
Broad money supply M2 (M1 plus quasi-money) stood at RO16.5 billion as at the end of August 2018 and grew by 2.4 percent during the same period.
The domestic interest rate structure of conventional banks continued to follow the upward trend in line with developments in US policy rates. The weighted average interest rate on RO deposits increased to 1.764 percent in August 2018 from 1.673 percent a year ago while the weighted average RO lending rate increased to 5.281 percent from 5.162 percent during the same period.
The overnight Rial Omani domestic inter-bank lending rate stood at 2.209 percent in August 2018, as compared to 1.237 percent a year ago.
The average Repo rate for liquidity injection by the CBO stood at 2.572 percent per annum during August 2018, increasing by 0.8 percentage point from last year.
Source: Oman News Agency