Khaberni - A number of Gulf central banks announced today, Wednesday, reductions in interest rates, following a similar decision by the US Federal Reserve.
The Central Bank of Bahrain stated today that it has decided to cut the overnight deposit rate by 25 basis points to 4.25% effective
from tomorrow, Thursday, December 11th.
The Central Bank of Kuwait announced a cut in the discount rate by 25 basis points, while the bank had previously defied expectations and decided to maintain the interest rate at its last meeting on October 29 at 3.75%.
The Central Bank of the UAE announced a cut in the basic interest rate (the base rate on overnight deposit facilities) by 25 basis points, according to "Reuters".
The Central Bank of Qatar also announced a cut in the main interest rates by 25 basis points.
