Bahrain central bank cuts one-month deposit rate

The move represents the continuous measures taken by the CBB to ensure the smooth functioning of the money markets in Bahrain

  
Undated handout photo shows the Bahrain Central Bank building in Manama. REUTERS/Central Bank of Bahrain/Handout

Undated handout photo shows the Bahrain Central Bank building in Manama. REUTERS/Central Bank of Bahrain/Handout

DUBAI - Bahrain's central bank said on Wednesday that it had decided to cut its one-month deposit rate by 15 basis points to 2.45% from 2.6%.

The move "represents the continuous measures taken by the CBB to ensure the smooth functioning of the money markets in Bahrain," it said.

It kept its key policy interest rate on the one-week deposit facility and the rate on the overnight deposit facility unchanged, at 2.25% and 2.00%, respectively.

Lending rates were also unchanged at 4%.

(Reporting by Davide Barbuscia; Editing by Himani Sarkar) ((Davide.Barbuscia@thomsonreuters.com; +971522604297; Reuters Messaging: davide.barbuscia.reuters.com@reuters.net))

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