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Bahrain's central bank raises key rate by 75 basis points to 3.25%

Bahrain's central bank raises key rate by 75 basis points to 3.25%

Reuters · 07/27/2022 14:10
Bahrain's central bank raises key rate by 75 basis points to 3.25%

- The Central Bank of Bahrain said on Wednesday it raised its key policy interest rate on its one-week deposit facility by 75 basis points (bps) to 3.25%, moving in lockstep with the U.S. Federal Reserve's hike as the Bahraini dinar is pegged to the dollar.

CBB also hiked by 75 bps the overnight deposit rate to 3%, the four-week deposit rate to 4% and the lending rate to 4.5%.



(Reporting by Yasmin Hussein and Yomna Ehab in Cairo; Writing by Yousef Saba in Dubai)

((Yousef.Saba@thomsonreuters.com; +971562166204; https://twitter.com/YousefSaba))