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Oman Credit Growth 4.42% y-o-y in Sep-23

- Oman's credit growth in September 2023 experienced a year-on-year increase of 4.42%, marking the lowest growth rate since January 2023.
- Despite the slowdown, the current credit growth rate is still 1.19 percentage points above the long-term average.

Oman CPI Inflation 0.5% m-o-m in Sep-23

- Oman's CPI inflation increased by 0.5% month-on-month in September 2023, indicating a moderate rise in prices compared to the previous month.
- This current inflation rate is both the highest growth since October 2022 and exceeds the one-year average by 0.39 percentage points.

Oman Credit Growth 5.43% y-o-y in Aug-23

- Oman's credit growth reached its highest level since March 2023, growing by 5.43% year-on-year in August 2023, exceeding the previous reading of 5.28%.
- The credit growth in August 2023 exceeded the one-year average by 1.09pp and the long-run average by 2.24pp, indicating a robust lending environment and potential acceleration in economic activity.

Oil: Piling On The Uncertainties

• ‘Events’ last week added to already significant uncertainties around the oil supply/demand equation. In particular, producers and investors alike would do well to recall James Carville’s quip to the effect that he wanted to be reincarnated as the bond market.

By Alastair Newton