Muscat, Monetary aggregates, narrow money stock (M1) recorded a yearly growth of 3.3 percent to RO5.3 billion, while quasi-money (Rial Omani saving and time deposits, certificates of deposit issued by banks, margin deposits and foreign currency denominated deposits) witnessed an increase of 6.1 percent during the same period.

Broad money supply M2 (M1 plus quasi-money) at RO16.6 billion at the end of June 2018 grew by 3 percent during the same period.

The domestic interest rate structure of conventional banks witnessed further increase during June 2018. The weighted average interest rate on RO deposits increased to 1.717 percent in June 2018 from 1.621 percent a year ago, while the weighted average RO lending rate increased to 5.240 percent from 5.123 percent during the same period.

The overnight Rial Omani domestic inter-bank lending rate increased further to 1.896 percent in June 2018 from 0.978 percent a year ago (1.831 percent in May 2018).

The average Repo rate for liquidity injection by the CBO stood at 2.548 percent per annum during the month of June 2018.

Source: Oman News Agency