Manama, Bahrain - The Central Bank of Bahrain (CBB) said on Thursday that it would cut its key policy interest rate by 25 basis points, after reviewing the decision taken by the US Federal Open Market Committee a day earlier.
"Effective immediately, the CBB's rate on the one-week deposit facility is 1.50 per cent, down from 1.75 per cent previously," a statement by the CBB said.
According to the statement, the CBB's lending standing facilities remain available for its banks at their initiative to assist them to meet their liquidity needs. The Bahraini dinar is pegged to the dollar.