Kuwait Central Bank raised discount rate to 2.00 percent

Kuwait, May 4 (BNA) The Central Bank of Kuwait raised today the discount rate from 1.75% to 2.00%, as of May 5.

A press release by the Central Bank of Kuwait stated that within the framework of the bank’s vigilant follow-up of local and international economic and geopolitical developments, in addition to monetary policy trends in global economies, the Board of Directors of the Central Bank of Kuwait decided to raise the discount rate by 0.25% to 2.00%. May 5, 2022.

The Central Bank of Kuwait also decided to adjust the rates of monetary policy instruments at varying rates for the entire interest rate yield curve, including repurchases (Repo), Central Bank of Kuwait bonds and securitization, term deposits, direct intervention instruments, as well as public debt instruments.

In this regard, Governor Basil Al-Haroun said that by raising the discount rate, the Central Bank of Kuwait seeks to maintain a favorable environment for sustainable economic growth taking into account inflation rates, and to confirm the attractiveness of the Kuwaiti dinar as a profitable and reliable store for domestic savings. Being the mainstay of monetary policy.


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