Our job is to make sure that demand grows in line with supply. Over recent times we have been working to slow the growth of demand to establish a better balance with supply, thereby shortening the period of high inflation and avoiding an unhelpful adjustment in longer term inflation expectations.
The central banks of the GCC, individually and collectively, are giving due attention to the issue of inflation and several new measures, such as rent caps and credit controls on banks, have been announced to support long-standing programmes of food subsidies and government housing for nationals.