Starting from June, the Qatar Central Bank (QCB) will start issuing Treasury bills to mop up excess liquidity from the banking system. The QCB's governor, Sheikh Abdullah bin Saud al-Thani, told reporters on May 16th that the first two T-bills, valued at US$2bn each and with a three-month maturity, would be issued in June and July. According to Sheikh Abdullah, the question of auctioning further bills, and details of their maturity would be considered in July. The QCB move has been prompted by the rapid expansion of money supply since the start of 2010. After posting a 3.8% quarter-on-quarter decline in the second quarter of 2010, broad money supply (M2) rose by 7.3% in the third quarter and 6.1% in the fourth quarter of 2010. Data released by the QCB reveal that the trend has persisted-albeit at a more moderate pace-despite the issuance of domestic bonds for local banks worth QR50bn in January 2011 (February 2011, Economic policy). In February, the latest data released by QCB, M2 rose by 15% year on year (3.8% since end-2010) to QR275.4bn, while narrow money (M1) expanded by 18.3%, to QR72.5bn. The QCB move is also aimed at reining in inflation, which has been creeping up since 2010 after a period of sharp deflation in 2009.