Banking & Finance Kuwait central bank raises discount rate by 25 bps By Reuters August 11, 2022, 5:41 AM Creative Commons Kuwaiti central bank governor Basel Al-Haroon says decision was in response to inflationary pressures The Central Bank of Kuwait raised its discount rate by 25 basis points to 2.75 percent effective from Thursday, it said in a statement on Wednesday. The decision was in response to inflationary pressures, bank Governor Basel Al-Haroon said in the statement. The bank had also increased the rate by 25 bps on July 27, after a 75 bps hike by the US Federal Reserve. All Gulf countries have their currencies pegged to the dollar except Kuwait, which pegs its dinar to a currency basket including the dollar. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register For Free Already registered? Sign in I’ll register later
