TheCentral Bank of Bahrain (CBB) has decided to cut its key policy interest rate by 50 basis points.

Effective immediately, the CBB’s rate on the one-week deposit facility is three per cent, down from 3.50 per cent previously.

The CBB has also cut the rate on the overnight deposit facility to 2.50 per cent, from three per cent previously.

The repo and lending rates remain unchanged.

The action on the rate cuts was taken at a meeting of the CBB Monetary Policy Committee. – TradeArabia News Service