Central Bank of Kuwait (CBK) announced a 25 basis point reduction in the benchmark discount rate to four percent from 4.25 percent. The new discount rates will be effective tomorrow, Thursday. CBK Governor Basel Al Haroon told the Kuwait News Agency on Wednesday the move came following a vigilant monitoring of local and global economic developments to end a monetary tightening cycle that began in March 2022 in most global central banks. He added the decision is based on developments in local and global economic, monetary and banking conditions, including indicators of local liquidity, movement of deposits and bank credit, and interest rates on the Kuwaiti Dinar and major currencies. Source: Qatar News Agency
Related Posts
Gold Rises on Growing Geopolitical Concerns
London, Gold prices rose on Tuesday, not too far away from a record high hit last week, as rising geopolitical tensions propped up demand for the safe-haven metal.
Spot gold was up 0.2% at $2,387.11 per ounce, after hitting an all-time high of $2,431…
CBB Treasury Bills oversubscribed by 129%
Manama, This week’s BD 70 million issue of Government Treasury Bills has been oversubscribed by 129%.
The bills, carrying a maturity of 91 days, are issued by the Central Bank of Bahrain (CBB), on behalf of the Government of the Kingdom of Bahrain.
…
Qatar’s IPI Increases by 4.7% in March
Doha: The Industrial Production Index (IPI), March 2024 reached 100.2 point, increased by 4.7% compared to the previous month (February 2024), and decreased by 3.2%, when compared to the corresponding month in 2023.
This indicator reflects the growth…