CENTRAL BANK OF KUWAIT RAISED INTEREST RATES TWICE IN TWO WEEKS

  • 12/08/2022

Kuwait City: The Central Bank of Kuwait has raised the discount rate twice in about two weeks. The lowest rate in the Gulf countries was raised by a quarter percentage point from 2.25 percent to 2.5 percent on July 28. This followed the Federal Reserve's decision to increase interest rates by 75 basis points to 2.37 percent. The latter was raised by a quarter of a percent the previous day. This increase is in the range of 2.50 percent to 2.75 percent.


Many questions are being raised about the reasons for raising rates twice in 15 days. The question is whether the estimate is wrong. The US Federal Reserve was expected to raise it by half a percentage point only once to keep pace. The question has also been raised as to what impact this has on the economy, inflation and the banking sector. It is in the interest of the national economy to work closely with the Federal Reserve and the Central Bank of Kuwait on interest rates. The main objective is to fight inflation.

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