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Kuwait central bank raises discount rate by 25 bps
March 15, 2017 / 6:35 PM / 9 months ago

Kuwait central bank raises discount rate by 25 bps

DUBAI, March 15 (Reuters) - Kuwait’s central bank said on Wednesday that it had decided to raise its discount rate by a quarter of a percentage point to 2.75 percent, effective on Thursday.

Central bank governor Mohammad al-Hashel said in a statement that the move would help to maintain attractive returns on savings in Kuwaiti dinars compared with major international currencies, particularly after the U.S. Federal Reserve’s interest rate hike on Wednesday. (Reporting by Andrew Torchia; Editing by Catherine Evans)

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