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UAE Central Bank Governor sees inflation at around 2 percent in 2012

UAE Central Bank Governor sees inflation at around 2 percent in 2012

The UAE's central bank is not worried about inflation this year, predicting it could average around 2 percent, its governor Sultan Nasser al-Suweidi said on Monday.

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January 23, 2012 2:40 by



“There are no reasons to worry about inflation at this point in time because the sources of inflation are under control,” he told Reuters on the sidelines of an Islamic finance conference in the Omani capital.

“As long as the real estate sector is under pressure, it (inflation) is not likely to go up, hovering around 2 percent in 2012,” he said.



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