Bahrain money supply surges

by Reuters Sunday, 30 September 2007

Annual money supply in Bahrain, an indicator of future inflation, grew in August at the second-fastest pace in at least six years, surging for a fifth straight month, according to central bank data on Sunday.

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M3, the broadest measure of money supply, surged 29.9% to 5.81 billion dinars ($15.42 billion) on August 31, compared with 4.47 billion dinars a year earlier, according to the central bank.
That is the second-fastest pace since May when it jumped 31.5%.

Monthly money supply growth averaged 26.7% in the five months to the end of August, compared with an average 17.4% last year.

Bank credits to the private sector grew 32.2% to 3.95 billion dinars, the data show.

Central bank foreign assets jumped 41.9% to 1.18 billion dinars, their highest in 10 years, the data show.



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