Bahrain raises key interest rate by 75 basis points
Move follows interest hike by US Federal Reserve
Manama: The Central Bank of Bahrain said on Wednesday it raised its key policy interest rate, on its one-week deposit facility, by 75 basis points (bps) to 2.5%, moving in lockstep with the U.S. Federal Reserve's hike as the Bahraini dinar is pegged to the dollar.
CBB also hiked by 75 bps the overnight deposit rate to 2.25%, the four-week deposit rate to 3.25% and the lending rate to 3.75%.
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Fed hikes US interest rate 0.75 points, biggest increase since 1994Kuwait central bank raises key rate by 25 bps to 2.25% US Federal Reserve hikes interest rates by another 0.75%, UAE central bank follows suitThe 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.
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