Central Bank of Kuwait raises discount rate

Kuwait: Kuwait's discount rate increased by 0.50 per cent from 3 per cent to 3.50 per cent as of December 7, according to a statement issued by the Central Bank of Kuwait on Tuesday.

Governor Basel Al-Haroon said in the statement that the move is consistent with the bank's goals of promoting a growth-friendly environment, upholding financial and monetary stability, and preserving the allure of the national currency as a store of wealth.