Monday 08 August 2022 - 7:32:45 am

Bahrain raises key interest rate by 75 basis points

MANAMA, 16th June, 2022 (WAM) -- The Central Bank of Bahrain (CBB) has decided to raise its key policy interest rate. CBB’s key policy interest rate on the one-week deposit facility is raised from 1.75% to 2.50%.

The decision is in light of the development of the international financial market and the continuous measures taken by the CBB to ensure the smooth functioning of the money markets in the Kingdom, Bahrain News Agency (BNA) reported.

The Bank has also decided to raise the overnight deposit rate from 1.50% to 2.25%, the four-week deposit rate from 2.50% to 3.25% and the lending rates from 3.00% to 3.75%.

The CBB 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.

WAM/Rola Alghoul/Esraa Ismail