Oxford Economic Country Briefings, November 30th, 2007
Highlights and Key Issues
* After strong growth of around 7.5% in 2006, the economy has held up well this year. GDP rose 6.2% on the year in H1 2007, driven by strong consumer demand and robust exports, which climbed 20% on the year. The prospects for 2008 are not quite so good, with growth forecast to slow a little further as domestic demand is hit by the sharp rise in interest rates since mid-2006.
* The central bank again left rates on hold at its policy meeting in November, noting that the monetary tightening since June 2006 is expected to curb inflation soon. Inflation (on a 12-month mo...
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