Kuwait central bank cuts discount rate from 100 bps to 1.5%

Dubai Kuwait's central bank cut its discount rate by 100 basis points to 1.5 percent from 2.5 percent, setting the rate at its lowest level in history, it said in a statement on Monday. The bank lowered the rate as part of a series of precautionary measures "for the consequences

Editorial Team Legacy

Published 16 March 2020, 8:00 · Updated 22:01

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Kuwait central bank cuts discount rate from 100 bps to 1.5%

Dubai

Kuwait’s central bank cut its discount rate by 100 basis points to 1.5 percent from 2.5 percent, setting the rate at its lowest level in history, it said in a statement on Monday.

The bank lowered the rate as part of a series of precautionary measures “for the consequences of the outbreak of the coronavirus and its implications for the national economy and the local market,” it said on Twitter.

Kuwait central bank cuts discount rate from 100 bps to 1.5%

Editorial Team Legacy

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