Business | Economy
Inflation in UAE not caused by the dollar peg says Al Suwaidi
The UAE Central Bank Governor has said inflation in the country is caused mostly by domestic pressure and not the dollar peg.
- Agencies
- Published: 14:14 December 13, 2007
Dubai: The UAE Central Bank Governor has said inflation in the country is caused mostly by domestic pressure and not the dollar peg.
Sultan Nassar Al Suwaidi said in a television interview that only around three percent of the inflation was as a result of the UAE's currency policy.
Speaking to Al Arabiya television, he said: "Inflation is temporary and is mostly a result of domestic factors."
Suwaidi said on December 5 that he would leave the peg unchanged for the "foreseeable future".
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