BUSINESS Brunei's central bank predicts low inflation in 2019

BUSINESS

Brunei's central bank predicts low inflation in 2019

Xinhua

15:59, December 23, 2018

BANDAR SERI BEGAWAN, Dec. 23 (Xinhua) -- Autoriti Monetari Brunei Darussalam (AMBD), Brunei's central bank, published its biannual policy statement for the second half of this year on Sunday, forecasting the country's inflation to remain below one percent next year.

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Photos: VCG

AMBD noted that the global economy is expected to grow 3.7 percent in 2018 and 2019. The domestic economy declined by 0.05 percent year-on-year in the first half of 2018.

AMBD's inflation forecast for 2018 and 2019 is maintained at below one percent, with potential downside risks to the forecast for 2019 if global inflationary pressures remain weak.

The central bank also highlighted that local licensed financial institutions continue to have strong fundamentals underpinned by high levels of capitalization, strong liquidity and improved profitability. It issued a number of notices this year to enhance investor protection and confidence in capital markets.

According to AMBD, in the recent Doing Business Report 2019, the World Bank acknowledged the implementation of Brunei's national credit scoring system, known as Bureau Credit Score, by the Credit Bureau of AMBD.

Brunei achieved the full score and ranked first out of 190 economies in the Getting Credit indicator, sharing the top spot with New Zealand.


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