Money supply up in Oman: CBO report

Muscat: Monetary aggregates as at the end of February 2019, the narrow money stock (M1) increased year-on-year (YoY) by 1.1% to OMR5 billion, according to Central Bank of Oman (CBO) bulletin.
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 3.2% during this period.
Broad money supply M2 (M1 plus quasi-money) stood at OMR16.8 billion as at the end of February 2019 and witnessed a growth of 2.6% over that in the corresponding period of last year.
The weighted average interest rate on OMR deposits rose to 1.886 percent in February 2019 from 1.700% a year ago while the weighted average RO lending rate increased to 5.337 percent from 5.192 percent during the same period.
The overnight Rial Omani domestic inter-bank lending rate stood at 2.463 percent in February 2019, much higher as compared to 1.356 percent a year ago. The average Repo rate for liquidity injection by the CBO stood at 2.997 percent per annum during the month of February 2019.