Amman - The Central Bank of Jordan on Monday cut the basic interest rate by 0.5 percentage points, to 6.25 per cent, in what analysts considered a late attempt to boost stocks at the Amman Stock Exchange.
In a parallel move, CBJ Governor Umayya Touqan said that the banks' compulsory cash ratio had been trimmed to 9 per cent from 10 per cent.
"The measures were taken in view of the declining inflation rate, which fell 2 percentage points at the end of October from a month earlier, as well as expectations of further falls in future," Touqan said.