Lebanon central bank sees '08 inflation stable
February 17, 2008 00:00:00
BEIRUT, Feb 16 (Reuters): Lebanon's central bank governor said yesterday inflation for 2008 should not exceed the five per cent of last year and forecast stable interest rates which may fall if the country's political crisis eases.
Riad Salameh said in an interview he did not expect a repeat of steep inflation that was driven by a climb in the prices of oil, commodities and the euro in the last quarter of 2007.
"We don't think that inflation should be over 5 per cent this year," Salameh said. "We think the adjustment has been made."
Interest rates would remain stable or fall if there was a resolution to Lebanon's political crisis, which has paralysed much of government for 15 months, left the country without a president since November and led to street violence.