The Central Bank of Bahrain (CBB) has raised its key policy interest rate.

CBB’s key policy interest rate on the one-week deposit facility is raised from 2.50 per cent to 3.25pc.

The CBB has also decided to raise the overnight deposit rate from 2.25pc to 3.00pc, the four-week deposit rate from 3.25pc to 4.00pc and the lending rates from 3.75pc to 4.50pc.

The central bank’s move is in line with developments in the international financial market and continuous measures to ensure the smooth functioning of the money markets in the kingdom.

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

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