UAE, Bahrain raise interest rates after Fed hike

14/06/2018 Argaam

 

The United Arab Emirates (UAE) and Bahrain raised their key policy rates on Wednesday, following a 25 basis point (bps) increase in the US Federal Reserve rate.

 

The Central Bank of UAE also hiked repo rate by 25 basis points (bps) to 2.25 percent.

 

Meanwhile, Bahrain also raised its interest rate by 25 bps.

 

The Central Bank of Bahrain also decided to increase the overnight deposit rate to 2 percent from 1.75 percent, the one-week deposit rate to 2.25 percent from 2 percent, and the one-month deposit rate to 3 percent from 2.65 percent.

 

The lending rate was increased to 4 percent to 3.75 percent.

 

Meanwhile, Central Bank of Kuwait maintained its discount rate unchanged at 3 percent.

 

The US Federal Reserve lifted its key interest rate from 1.75 percent to 2 percent.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.