Iraq's core inflation falls in April

30 May 2010

According to data by Iraq's central bank, the country's core inflation rate continued to slow in April dropping to an annual 3% from 3.6% in March, Reuters has reported. The central bank cut its key policy rate by 100 basis points to 6% in April, hoping to encourage commercial banks to increase lending to boost economic growth in the broader economy. The bank defines core inflation as excluding expenditure on fuel.

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