Iraq's central bank to curb inflation

Officials at the Central Bank of Iraq (CBI) said that the bank is considering taking measures to curb inflation which hiked to 70 percent last year on soaring oil prices, Iraq Directory reported Wednesday 14 February.

According to the report, the CBI will probably raise its interest rates to 20 percent, up from the present 8 percent, in order to reduce inflation pressures on the economy.

In 2006, Iraq's consumer price index soared to 70 percent, driven by the 80 percent surge in prices of oil

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