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

The regulator said the key policy interest rate on the one-week deposit facility is raised from 5.50 per cent to 5.75pc

Staff Writer, Gulf Daily News

March 24, 2023

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The Central Bank of Bahrain (CBB) has decided to raise its key policy interest rates by 25 basis points.

The regulator said the key policy interest rate on the one-week deposit facility is raised from 5.50 per cent to 5.75pc.

The CBB has also decided to raise the overnight deposit rate from 5.25pc to 5.50pc and the four-week deposit rate from 6.25pc to 6.50pc, while the lending rates will remain unchanged at 6.75pc.

The decision by the CBB follows the US Federal Reserve's announcement on Wednesday raising interest rates by a quarter of a percentage point.

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.

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