CENTRAL BANK OF KUWAIT RAISES DISCOUNT RATE BY A QUARTER OF A PERCENTAGE POINT TO 2.5%

  • 28/07/2022

Kuwait City: Central Bank of Kuwait Governor Basil Ahmad Al-Haroun stated that the Central Bank of Kuwait decided to raise the discount rate by a quarter of a percentage point from 2.25% to 2.50%, as of July 28, 2022. It was also decided to make an adjustment to varying degrees in the money market intervention rates that are currently applied to all The terms of the interest rate structure, including repurchases (repo), Central Bank of Kuwait bonds and securitization, the system for accepting time deposits, direct intervention instruments, in addition to public debt instruments.


The governor explained that this Central Bank decision came in light of recent developments in the local and global economic conditions and geopolitical developments and the impact of this on global inflation rates and its reflection on the consumer price index in Kuwait. The governor indicated that the decisions of the Central Bank of Kuwait are based on the diligent follow-up of local and global economic and financial data and information, with the aim of strengthening the environment that supports economic growth, especially the non-oil sectors, and to ensure monetary and financial stability and maintain the attractiveness of the national currency as a reliable source of local savings.

The Governor concluded that the Central Bank of Kuwait will continue its monitoring of economic and monetary developments in the local and international markets, in order to take any necessary additional measures to ensure maintaining monetary and financial stability in Kuwait.

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