Kuwait's central bank lowers rates by 0.125%, maintains discount rate -KUNA

The bank said it was it was maintaining a "historically low" discount rate of 1.5%

  
View of Kuwait Central Bank building from across the fish market marina where old fishing boats are standing, Kuwait City - June 17, 2016. Image used for illustrative purpose.

View of Kuwait Central Bank building from across the fish market marina where old fishing boats are standing, Kuwait City - June 17, 2016. Image used for illustrative purpose.

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CAIRO - Kuwait's central bank announced on Tuesday it was cutting repo rates and other rates across the interest rate yield curve up to the ten-year term by 0.125%.

The bank, which said it was it was maintaining a "historically low" discount rate of 1.5%, said this was in line with "special measures to cope with the ramifications of the Covid-19 pandemic on economic and banking conditions," state news agency KUNA said.

(Reporting by Nayera Abdallah, writing by Nafisa Eltahir, editing by Chris Reese) ((Nafisa.Eltahir@thomsonreuters.com; +971 56 226 1754;))

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