Kuwait central bank raises discount rate by half percentage point – statement

Reuters Images/Stephanie McGehee

The decision is in line with recent developments in the local and international economic conditions

Enas Alashray, Reuters News

January 26, 2023

PHOTO

CAIRO - The central bank of Kuwait raised its discount rate to 4% from 3.50% effective Jan. 26, it said in a statement on Wednesday.

The decision is in line with "recent developments in the local and international economic conditions, local monitory and banking indicators and movements on KWD interest rate in the local market considering changes to the interest rates on the other major currencies," Governor Basel Al-Haroon said in the statement.

(Reporting by Enas Alashray; editing by Jason Neely)

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