June 14, 2017 / 6:45 PM / 2 months ago

Kuwait central bank keeps discount rate at current level

DUBAI, June 14 (Reuters) - Kuwait's central bank said on Wednesday it was keeping its discount rate at the current level of 2.75 percent, despite the U.S. Federal Reserve's decision to raise rates by 25 basis points.

In a statement, the Kuwaiti central bank noted that it had hiked its key rate following U.S. interest rate rises in the past.

This time, however, the central bank decided to keep the rate unchanged because of factors such as low oil prices and the objective of supporting sustainable economic growth, it said.

The central bank added that it would continue to use other tools and procedures to maintain the attractiveness of the dinar currency. (Reporting by Andrew Torchia Editing by Jeremy Gaunt)

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