Central Bank of Bahrain raises key interest rate by 25 basis points

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The CBB’s key policy interest rate on the one-week deposit facility is raised from 5.75 per cent to 6pc

Staff Writer, Gulf Daily News

May 4, 2023

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The Central Bank of Bahrain (CBB) has decided to raise its key policy interest rate after the US Federal Reserve raised interest rates by a quarter of a percentage point.

The CBB’s key policy interest rate on the one-week deposit facility is raised from 5.75 per cent to 6pc.

The CBB has also decided to raise the overnight deposit rate from 5.50pc to 5.75pc and the four-week deposit rate from 6.50pc to 6.75pc, and the lending rates from 6.75pc to 7pc.

The CBB said it continues to monitor global and local market developments closely in order to take any further necessary actions to maintain monetary and financial stability in the kingdom.

Meanwhile, the Federal Reserve yesterday raised interest rates by a quarter of a percentage point and signalled it may pause further increases.

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