The Central Bank of Bahrain (CBB) decided today to cut the overnight lending rate by 1.55%, from 4.00% to 2.45% in light of the recent global developments. 

 

The rate cut is effective immediately, CBB said. 

 

The adjustment to the lending rate represents the continuous measures taken by the CBB to ensure the smooth functioning of the money markets in Bahrain. The CBB continues to monitor global and local market developments closely in order to take any further necessary actions, it said. – TradeArabia News Service