October 30, 2019 / 6:29 PM / 14 days ago

Kuwait central bank cuts discount rate to 2.75 pct from 3.0 pct

DUBAI, Oct 30 (Reuters) - Kuwait’s central bank said on Wednesday it had decided to cut its discount rate to 2.75% from 3.0%.

The decision aims to “reduce the cost of borrowing in the Kuwaiti dinar, maintain a comfortable margin for the Kuwaiti dinar, and prove a supportive environment for investment,” the central bank said in a tweet.

Earlier, the U.S. Federal Reserve cut rates by a quarter of a percentage point. (Reporting by Aziz El Yaakoubi and Asma Alsharif, writing by Nafisa Eltahir Editing by Chizu Nomiyama)

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