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.
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.