Monday , October 23 2017

Kuwait cbank holds discount rate

DUBAI, June 14, (RTRS): Kuwait’s central bank said on Wednesday it was keeping its discount rate at the current level of 2.75 percent, despite the US Federal Reserve’s decision to raise rates by 25 basis points.

In a statement, the Kuwaiti central bank noted that it had hiked its key rate following US interest rate rises in the past. This time, however, the central bank decided to keep the rate unchanged because of factors such as low oil prices and the objective of supporting sustainable economic growth, it said.

The central bank added that it would continue to use other tools and procedures to maintain the attractiveness of the dinar currency.

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