Central Bank of Bahrain increases key interest rates
MANAMA, December 15, 2022
The Central Bank of Bahrain (CBB) has decided to raise its key policy interest rate in light of international financial market developments.
CBB’s key policy interest rate on the one-week deposit facility has been raised from 4.75% to 5.25%.
CBB has also decided to raise the overnight deposit rate from 4.5% to 5%, the four-week deposit rate from 5.5% to 6% and the lending rates from 6% to 6.5%.
The step is to ensure the smooth functioning of the money markets in Bahrain, CBB said.
The CBB continues to monitor global and local market developments closely in order to take any further necessary actions to maintain monetary and financial stability in the kingdom, it added. – TradeArabia News Service