Kuwait central bank raises key rate by 25 bps to 2.25%
Move follows interest hike by US Federal Reserve
The Central Bank of Kuwait said on Wednesday it increased its discount rate by 25 basis points to 2.25%, after the US Federal Reserve's 75 basis point rate hike.
The Kuwaiti dinar is pegged against a basket of currencies that includes the dollar.
Bahrain
The Central Bank of Bahrain (CBB) has decided to raise its key policy interest rate. CBB’s key policy interest rate on the one-week deposit facility is raised from 1.75% to 2.50%.
The CBB has also decided to raise the overnight deposit rate from 1.50% to 2.25%, the four-week deposit rate from 2.50% to 3.25% and the lending rates from 3.00% to 3.75%. The CBB continues to monitor global and local market developments closely in order to take any further necessary actions to maintain monetary and financial stability in the Kingdom.