CBB cuts one-month deposit rate

The Central Bank of Bahrain (CBB) has decided yesterday to cut its one-month deposit interest rate by 15 basis points. The CBB’s rate on the one-month deposit facility is 2.45 per cent, down from 2.60pc previously.

The CBB has also decided to keep its key policy interest rate on the one-week deposit facility and the rate on the overnight deposit facility unchanged, at 2.25pc and 2.00pc respectively.

The CBB lending rates remain unchanged at 4.00pc. The adjustment to the onemonth deposit rate represents the continuous measures taken by the CBB to ensure the smooth functioning of the money markets in Bahrain.

The CBB continues to monitor global and local market developments closely and will consider additional measures to develop the environment for economic growth and enhance the competitiveness of the Bahraini Dinar.