Near-record inflation forces Oman to limit lending

The Central Bank of Oman upped banks' reserve requirement ratio on Sunday in a bid to curb rampant inflation.

The central bank has bumped up the amount of reserves banks must hold as a proportion of liabilities from 5% to 3% after the Federal Reserve decided last week to cut rates for the third time in four months. The figure is still relatively low. The Basel II framework requires banks to hold 8%, while the People's Bank of China has raised its ratio to 14.5%.

Since September, the Fed has

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