Manama, Kingdom of Bahrain – 16th March 2020 – In light of the recent development in the global market, the Central Bank of Bahrain (CBB) has decided today to cut its key policy interest rate. The CBB’s key policy interest rate on the one-week deposit facility is cut from 1.75% to 1.00%. The CBB has also decided to cut the overnight deposit rate from 1.50% to 0.75%, the one-month deposit rate from 2.20% to 1.45%, and the CBB lending rate from 2.45% to 1.70%.
The adjustment to interest rates represents part of the CBB’s efforts and continuous measures to ensure monetary and financial stability, as well as maintaining the smooth functioning of the money markets and economic activity in Bahrain. The CBB continues to monitor global and local market developments closely, in order to take any further necessary action.