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Bahrain cuts key interest rate
- Bahrain: Thursday, October 30 - 2008 at 14:22
The Central Bank of Bahrain (CBB) has cut its key policy interest rate by 25 basis points, according to a press statement. The CBB's rate on the one-week deposit facility is now 1.50%, down from 1.75% previously. The CBB has also adjusted the rate on the overnight deposit facility to 1.00%, from 1.25% previously. Further, CBB adjusted the Repo lending rate through which it charges banks for the use of these facilities. To reflect changes in current interbank market interest rates, the CBB has reduced the repo and lending rates to 3.50% from 4.75% previously.
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Jeff Florian, Senior ReporterThursday, October 30 - 2008 at 14:22 UAE local time (GMT+4)
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