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Bahrain trims interest rates
- Bahrain: Thursday, December 18 - 2008 at 13:00
Bahrain cut key deposit and lending rates on Thursday by 75 basis points, becoming the latest Gulf country to follow the US interest rate cut, Reuters has reported. The island kingdom, which pegs its dinar currency to the dollar, lowered the overnight repurchase rate and overnight secured rate, its policy lending rates, to 2.75% from 3.5%. Saudi Arabia and Kuwait reduced their benchmark lending rates by 50 basis points this week after the Federal Reserve cut interest rates to between zero and 0.25%.
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Jeff Florian, Senior ReporterThursday, December 18 - 2008 at 13:00 UAE local time (GMT+4)
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