BREAKING NEWS

Saudi central bank 'not worried' about inflation

By REUTERS

OCTOBER 9, 2011 00:52

JEDDAH, Saudi Arabia - Saudi Arabia's inflation levels are not worrying and will continue to decline, the country's central bank governor Muhammad Al-Jasser said on Saturday.

"Inflation levels are not worrying. Inflation has become stable since the beginning of the year between around 4.6 and 4.9 (percent)... I expect it to continue its decline," Al-Jasser told reporters on the sidelines of a conference in Riyadh.

Al-Jasser also said that lending levels had risen by more than 9 percent in 2011. "In reality, lending has risen by more than 9 percent this year ... an excellent level," he said.

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