CBI defends its monetary policy and the dollar auction sale

Defended the central bank policy followed by the previous years with regard to monetary policy used and the Central Bank auction.

A statement of the bank that “monetary policy followed by the Central Bank since 2004 and until now, policy is very successful and led to a reduction in inflation from 50 percent to 5.8 percent and falling prices and stability.”

He said that “After the low rates of inflation to the extent accepted by the bank to cancel all of these materials except for deposits of order seven days of the Iraqi dinar only to encourage banks to grant credit for industrial projects, agricultural and residential. “

She explained that “monetary policy was welcomed by the International Monetary Fund and praised it.” He said the bank in his demonstration that the “terms of sale dollar to the banks are a tool of monetary policy aimed at the withdrawal of liquidity from the market as is the case in which the majority of the world’s central banks.