Kuwait cbank holds discount rate

This news has been read 6007 times!

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.

This news has been read 6007 times!

Back to top button

Advt Blocker Detected

Kindly disable the Ad blocker

Verified by MonsterInsights