Bahrain end-Nov money supply up 3 pct y/y

Bahrain's money supply grew 3.0 per cent year-on-year at the end of November, after a 0.4 per cent rise in the previous month, data showed on Thursday.

M3, the broadest measure of money circulation in the Bahraini economy, stood at 8.23 billion Bahraini dinars ($21.83 billion) at the end of last month, compared with 7.99 billion a year ago, the central bank said in its monthly report. Growth in money supply, an indicator of future inflation, has decelerated rapidly since peaking at an annual rate of almost 37 percent in June, 2008. On the month, the Gulf country's money supply increased by 1.9 percent as time and savings deposits rose 5.5 percent to 4.9 billion dinars.