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Monetary Policy Transmission in Oman / Thomas Kroen.
- Format:
- Book
- Government document
- Author/Creator:
- Kroen, Thomas.
- Series:
- Selected Issues Papers; Selected Issues Paper ; No. 2024/018
- Selected Issues Papers
- Language:
- English
- Physical Description:
- 1 online resource (9 pages)
- Place of Publication:
- Washington, D.C. : International Monetary Fund, 2024.
- Summary:
- Amid a pegged exchange rate to the US dollar and an open capital account, Oman’s policy rates move closely with US monetary policy. In this analysis, we show empirically that transmission from policy rates into effective lending and deposit rates remains subdued in Oman, even compared to GCC peers that similarly face a high oil price environment with persistent excess liquidity in the banking system. A cap on personal loan rates and low exposure of banks to SMEs and riskier borrowers limit passthrough into effective lending rates and credit conditions. The note documents ongoing actions by Omani policymakers to strengthen transmission and provides further recommendations on liquidity management, reserve management, and relaxing the interest rate cap.
- Notes:
- Description based on print version record.
- ISBN:
- 9798400278402
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